Just a week after completing the sale of the LA Times complex in Downtown LA, it appears that Tribune Co. is preparing to develop a lot just across the street.
Plans were filed Tuesday for the construction of a new 30-story mixed use project on a lot that currently houses a parking structure used by LA Times employees. The proposed project includes 107 condominium units, 7,200 square feet of commercial space, and a hefty 534,044 square feet of offices.
Onni Group, a Vancouver-based developer, reportedly paid $120 million for the Times complex, and also has plans to redevelop the newspaper’s main offices across the street from the parking lot. Those plans would likely include the demolition of the William Pereira-designed structure added to the complex in the 1970s and an overhaul of the classic 1930s moderne building along Spring Street. It’s not clear yet whether or not the paper will remain in the complex once its lease expires in 2018.
The parcel, which is located on Second Street between Broadway and Spring, is also the future site of a Metro station being constructed as part of the Regional Connector project that will eventually link the Blue and Expo Lines to Union Station.
In 2014, the LA Times reported that a proposed second entrance to the station had been scrapped because of the possibility that then-owner Tribune Co. might develop the location.
Update: An earlier version of this article indicated that the lot was included in the sale of the LA Timescomplex. In fact, it is still owned by Tribune Co. We apologize for the error.
Credit: la.curbed.com/
