Wednesday, June 22, 2016

TheSource: Joint Development at North Hollywood set to take a big next step


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Attentive Source readers may recall that Metro is working to develop parcels the agency owns around the Red Line and Orange Line stations in North Hollywood. Renderings are above and the Metro staff report is below. The project team has sent this update to community members and stakeholders interested in the project: 
We are excited to report that Metro staff are recommending a combined development team comprised of the Trammell Crow Company (TCC) and Greenland USA to begin negotiations for development of the Metro-owned property surrounding the North Hollywood Red/Orange Line station. 
In Fall 2015, Metro’s Joint Development Team undertook a community outreach process that included meetings with local stakeholders, residents, business and property owners, community organizations, and public agencies. From the community input shared during this process, Metro developed the Guide for Development for the 15.6-acre North Hollywood site, which the Metro Board of Directors adopted at its December 2015 meeting.
The parcels that Metro owns in NoHo. Click above to see larger.
The parcels that Metro owns in NoHo. Click above to see larger.
Following approval of the Guide for Development, Metro released a Request for Proposals for the site to a short-list of developers selected through a Request for Information and Qualifications (RFIQ) earlier in 2015. On April 8th, 2016, Metro received one proposal submitted jointly by the short-listed developers, Trammell Crow Company and Greenland USA. Metro staff reviewed the materials received and determined that the TCC/Greenland proposal provided a range of development opportunities for the property that best aligned with the Guide for Development. The TCC/Greenland proposal presents a range of development opportunities for use of the 15.6-acre site, all of which include a large central square and community gathering space tying together the West and East sides of Lankershim, new mixed-use development and pedestrian and bike paths. 
Metro’s Board of Directors will consider approving a Short Term Exclusive Negotiation Agreement and Planning Document  (“Short Term ENA”) with the TCC/Greenland team at the Executive Management Committee meeting on Thursday, June 16th at 11:00 AM and at its regular full board meeting on the following Thursday, June 23rd at 9:00 AM.  Under the Short-Term ENA, Metro and the developer will refine their project proposal, working with community stakeholders and Metro Operations, to ensure that it balances the vision of the project stakeholders, while remaining financially feasible.  Stay tuned for upcoming community meetings and, in the meantime, please don’t hesitate to reach out to staff with any questions you may have about the next steps.

(Source: http://thesource.metro.net/2016/06/14/joint-development-at-north-hollywood-takes-a-big-next-step/)

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