Two lawsuits holding up the $1.2 billion development known as The Reef have been settled, clearing the way for the project to move forward, Los Angeles City Councilman Curren Price announced Wednesday.
The Reef project was approved by the City Council in November and plans to bring a mixed-use development that includes housing, a hotel and retail space to the existing Reef space in the 1900 block of Broadway.
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The project is just south of the Santa Monica (10) Freeway on the outskirts of downtown, where a design and wholesale showroom space is located.
“I am thrilled that the developer of The Reef was able to work with the community to address concerns and resolve this litigation,” Price said.
“For far too long, this area of the city has been ignored. The Reef will be a transformational project that brings much-needed economic development to the Ninth District.”
After the City Council approved the project, Strategic Actions for a Just Economy and the Golden State Environmental Justice Alliance filed lawsuits against the project in Los Angeles Superior Court. The organizations could not be reached for comment.
The cases were settled out of court, Price’s office said.
–City News Service
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