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.

Lowe's plan is designed to complement and build on existing recent developments that have added substantial multifamily residential options, along with new retailers and restaurants, in the NoHo area. The North Hollywood area is a transportation hub with the Metro Red Line subway station, Metro Orange Line bus terminus and connections to other bus routes.