Tribune Plans Downtown Development Project
LOS ANGELES—Tribune Real Estate Co. has begun looking for a developer for two development sites the company owns in Downtown Los Angeles and Orange County.
The Downtown Los Angeles development site sits on several acres, and is currently occupied by the Los Angeles Times as well as several other tenants. Known as the Times Mirror Square, the site is adjacent to Grand Park and Los Angeles City Hall. According to Murray McQueen, the president of Tribune Real Estate, the vision for the project is to create a mixed-use complex at the epicenter of the Civic Center and Broadway Corridor, which is home to the newly developed Ace Hotel. The site is also located within close proximity to the metro rail station.
The Orange County development site is a massive 21 acres in Costa Mesa, CA. The site is currently vacant. Tribune has not revealed possible plans for this plot, but explains that Costa Mesa is the cultural center of Orange County, and they are excited to be a part of that identity with this development.
Tribune will tap a brokerage house to help locate an ideal development partner for these projects. The company declined to provide further comment about the search or the types of developers that it is seeking.
By: Kelsi Maree Borland
