X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-The City Council here has upheld a local planning group’s approval of a proposed industrial development in Chinatown, one of the last steps toward building an $80-million business park on one of the Downtown area’s last raw pieces of land.

The Council’s 9 to 2 vote essentially affirmed the approval that the Central Area Planning Commission gave the project last month. Locally based Majestic Realty Co. says the business park could create up to 1,000 jobs, but some community activists want to see the land used for a park, school and affordable housing. A few environmentalists have said the land should be left the way it is.

The site, known simply as “the cornfield” because it resembles a giant ear of corn, is located between North Broadway and North Spring Street. Los Angeles Mayor Richard Riordan’s economic team came up with the idea to develop 32 acres of the cornfield as part of the city’s efforts to revitalize certain neighborhoods. Majestic, which has been working on the proposal for about two years, would set aside eight additional acres for parkland and other community-related uses.

Despite the City Council’s approval of the project, opponents say they’ll go to court next month in another attempt to stop Majestic from building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.