A Chinese developer is planning a nearly $500M multi-use complex next to Angel Stadium, "a potential anchor for a future downtown area," according to Andrew Khouri of the L.A. TIMES. Plans from LT Commercial Real Estate subsidiary LT Global Investment "call for a mega-development complete with a 28-story condo tower, a 26-story hotel, a theater, alfresco dining and an indoor surfing park." LT Global "must first cut a deal with the Angels and the city to secure the needed parking for such a large development." The developer "needs the Angels to sign off on using part of a parking lot surrounding the stadium to meet city parking requirements." But the team, which "has rights to that lot through its lease with the city, doesn't support LT's proposal." Angels consultant Marie Garvey said, "We need this land for our parking operations." In a letter to the city in late March, the Angels "urged Anaheim to reject LT's development because it 'does not have the rights to all of the land necessary to develop and operate its proposed project.'" But LT Global Exec Dir Randy Jefferson thinks that an agreement "can be reached with the Angels." Khouri reported the company "hopes to break ground next year, with construction wrapping up" in '20. Adding "another layer of uncertainty" is that the Angels "have explored moving elsewhere as negotiations with Anaheim over stadium renovations have stalled" (L.A. TIMES, 5/9). In California, Collins & Leal noted the development "would be built on 15 acres abutting Angel Stadium property, an area that now includes an unoccupied warehouse and vacant, weed-strewn land." It is "unclear how, or if, the project would be a factor in the team’s desire to stay or leave Anaheim" (ORANGE COUNTY REGISTER, 5/9).
