New York-based developer Tishman Speyer has canceled its plans to replace a warehouse complex in L.A.'s Arts District with a 10-story office building encompassing 222K SF.
The Department of City Planning has officially terminated entitlement proceedings for Tishman's project at 2159 East Bay Street, according to a report in Urbanize LA.
The project has been in the works for seven years. The small group of industrial buildings at the site was once the home of the startup Hyperloop One, the high-speed magnetic levitation train envisioned by Elon Musk in 2013.
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