The 1.2-million-sf office, residential and retail project willrise on a 23-acre parcel next to the Metropolitan TransitAuthority's subway station at Lankershim and Chandler boulevards.Construction should begin late next year, with completion 12 to 18months later, a J.H. Snyder spokeswoman says.

The deal approved by the City Council includes $43.9 million invarious types of government loans and grants to offset part of J.H.Snyder's development costs. More than half of the aid—about $27million—will come from the U.S. Department of Housing and UrbanDevelopment and other federal agencies.

NoHo Commons is considered the cornerstone of efforts by thecity to redevelop North Hollywood's tired urban core. The project'soriginal developer, J. Allen Radford, nearly four years agoproposed a $1-billion, 4-million-sf mixed-use project that wouldinclude office and retail space, sound stages and a hotel.