Union Station purchased for $75 million by county transit authority
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
EDITOR'S PICKS:
$75 million is a steal for an historic landmark that this is.
Now, I would like to see the new owners replace the incredibly rude, bigoted and hostile rent-a-guards that patrols Union Station at night.
I have actually witnessed a couple of these guards spewing homophobic insults at some young men after they were asked them to leave the premises and not come back.
Posted by: Derek Greeley | February 24, 2011 at 05:04 PM
Westside subway extension - YOU SHOULD START BUILDING IT AS WELL
Posted by: logan street | February 24, 2011 at 05:05 PM
Yes! This is what the MTA should be doing: Capital Venture!
In order for the MTA to be more profitable and less subsidized, it needs to start investing in real estate connected to its transportation projects. The MTA should build some apartments or shopping plazas on the properties that it acquired as a result of building rails or bus-lanes. This way the MTA can actually make money to cover its operational costs.
Posted by: Matt Wong | February 24, 2011 at 05:09 PM
Where the hell did they come up with $75 million?
Posted by: Michael | February 24, 2011 at 05:22 PM
So when are the bus fares going to go up again?
Posted by: Don T | February 24, 2011 at 05:32 PM
I woner if the purchase includes the hordes of miscreants permanently residing there.
Posted by: GoodyTwoShoes | February 24, 2011 at 05:35 PM
Union Station is a busy and wonderful place. The purchase makes has lots of logic to it. Good job Metro!
Posted by: Tom Baer | February 24, 2011 at 05:40 PM
Where did the money come from to buy this station? How did Catellus, a private co., even come to own a public property?
Posted by: anon | February 24, 2011 at 05:54 PM
Didn't TPG (formerly Texas Pacific Group) buy ProLogis? So, did Metro buy Union Station from TPG or from ProLogis??
Posted by: Will Wright | February 24, 2011 at 06:32 PM
The MTA is full of idiots. My wife had to work with them once. Where do they get this $75M when they claim poverty to get the bus ticket prices raised.
I think us Republicans need to bust this union also.
Posted by: uncle_charlie | February 24, 2011 at 07:48 PM
Metro is getting ripped off. Ask (and report) what Catellus paid two years ago.
Posted by: dfb | February 24, 2011 at 07:53 PM