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:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.