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Union Station purchased for $75 million by county transit authority

February 24, 2011 |  3:45 pm

http://latimesblogs.latimes.com/.a/6a00d8341c630a53ef0134883a442e970c-640wi

Downtown's historic Union Station will be purchased by the Los Angeles County Metropolitan Transportation Authority for $75 million under a deal approved Thursday that will clear the way for the expansion of transit operations and new development on the property.

The MTA board decided to buy the famous rail hub from Catellus Operating Limited Partnership, which is owned by ProLogis, based in Colorado. The deal, which is expected to close in 30 days, includes 38 acres and 5.9 million square feet of development rights.

“Los Angeles Union Station is absolutely critical to the current and future mobility of our region,” said county Supervisor Don Knabe, chairman of the MTA board. “We now have the ability to retain the historic nature of Union Station and prepare it to serve as a world-class 21st century transportation hub.”

MTA officials wanted control of the station to help accommodate an expected surge in passengers from the proposed Westside subway extension, a planned downtown connector for the region’s light-rail lines, increased bus service and the state’s high-speed rail system if it is built.

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Photo: Credit: L.A. Times

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