Lowe Wins NoHo Development Deal

LOS ANGELES-The Los Angeles County Metropolitan Transportation Authority has signed Lowe Enterprises to an agreement that grants the Los Angeles-based firm the exclusive right to negotiate as master developer for a 1.7-million-sf mixed-use project surrounding the North Hollywood Metro Red Line station. Lowe’s proposal, called the NoHo Art Wave, envisions a mix of uses, including office, retail and residential with substantial community and public spaces.

Lowe, which won the exclusive negotiating rights in a competitive bidding process that began in August, would also develop replacement park and ride facilities as part of its plan. Lowe Enterprises has teamed with the architectural and planning firm of AC Martin Partners to create the conceptual master plan for the project area, which is composed of four parcels totaling 15.6 acres on and around the Metro Red Line station on Lankershim Blvd.