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Old Posted Jun 18, 2019, 7:59 AM
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Anaheim Megaproject On Hold As Future Of Adjacent Angel Stadium In Limbo

Quote:
The size and scope of LT Global Investments' much-anticipated $500M LT Platinum Center project in Anaheim may hinge on what kind of agreement the city strikes with the owner of the Anaheim Angels, city officials said. LT Global has yet to break ground on the massive mixed-use project next to Angel Stadium and in the city's Platinum Triangle area.

There is a chance, depending on what kind of agreement comes out of negotiations between the Angels and the city, that LT Global may acquire some of the city-owned land adjacent to the project, Anaheim Mayor Harry Sidhu told Bisnow Thursday before he spoke to more than a 150 commercial real estate professionals at Bisnow's Orange County State of the Market event. "LT Platinum is part of the ongoing discussions with the Angels," Sidhu said.

Sidhu did not discuss specifics. It is unclear under what circumstances LT Global would acquire the city-owned land and whether that hinges on the Angels leaving or staying on-site. An email to an LT Global official was not returned by press time. The Angels and the city are currently in the midst of discussing ways for the team to remain at the city-owned, 150-acre Angel Stadium site long term. The Angels opted out of their lease agreement last year but signed a one-year lease extension to remain in the stadium through the 2020 season to allow time to negotiate with the city.
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