The project would create a combined 3.8 million square feet of offices, restaurants, shops and entertainmentCITY OF ANAHEIM
The proposed development agreement for the 150-acre Angel Stadium site in Anaheim "could soon win city approval, locking in key provisions of the stadium sale deal for the next 30 years," according to Alicia Robinson of the ORANGE COUNTY REGISTER. The Anaheim Planning Commission "recommended the city sign onto the agreement and related zoning changes" in a 6-1 vote last week. SRB Management, Angels Owner Arte Moreno’s business partnership that is buying the stadium, said that the project would "add 5,175 residential units, two hotels and a 7-acre 'flagship' public park," as well as a "combined 3.8 million square feet of offices, restaurants, shops and entertainment." The stadium, opened in '66, "would either be renovated or replaced." Under the proposed sale deal, the city "would sell the stadium property" for $320M, and then credit $170M "back to SRB Management." The City Council is "expected to consider the development agreement on Sept. 29" (ORANGE COUNTY REGISTER, 9/12).
