City sold East Village lot for mixed-use project without new environmental review.

Designation comes a year after the state said city had slowest approval process in state.

The platform will occupy 250K square feet in Showplace Square until 2037.

Partners will renovate 697 market-rate garden apartments for conversion.

Two firms will envision future of 650-acre site near Port of Los Angeles.

Peninsula vacancy rate hits 34%, largest ground-up delivery arrives vacant.

As occupancy tops 96%, multifamily investment sales dropped 90% in third quarter.

If no third-party bid emerges, lenders could take over former URW, Brookfield asset.