Expo Parking Gone?
City Plans Massive Development Replacing Expo Line Parking
BYE BYE FREE Parking. 586 free parking spaces will disappear if the Culver City Council votes to sell the property to Lowes Development for a planned hotel and office and retail complex. The lot is currently full by mid morning with commuter vehicles.
Culver City has announced the anticipated sale of city-owned and Successor Agency-owned real property at the Culver City Expo Line station to Lowe Enterprises.
The properties, which bear addresses on Venice Boulevard, National Boulevard, and Exposition Boulevard, and are described as "blighted," are currently being used for parking for the Expo Line station.
The properties have been designated for development as a Transit-Oriented Development (TOD) project since January 2011, when the former Redevelopment Agency entered into an agreement with Lowe. The Agency Parcels and the City Parcels (collectively referred to as the "TOD Project Site") and an adjacent parcel owned by the City of Los Angeles (known as the "LACTMA Parcel") are proposed to be developed as "a global transit oriented development comprised of a mix of compatible land uses including office, retail, restaurant, hotel and residential."
According to the city's long-range property management plan: "If the Agency Parcels are sold by themselves, the proceeds of the sale will generate approximately $800,000 in funds. If, however, the Agency Parcels are sold and developed together with the City Parcels in accordance with the terms of a certain "Purchase Agreement"...... for the TOD Project, the proceeds of the sale of the Agency Parcels will generate approximately $8,200,000. It is contemplated that such amount will be paid to the Successor Agency to the Culver City Redevelopment Agency (the "Successor Agency") for use in reducing enforceable obligations and/or remitting to taxing entities as residual proceeds in accordance with Assembly Bill No. AB X1 26 and Assembly Bill No. 1484 (collectively referred to as the 'Dissolution Act'). By developing both the Agency Parcels and the City Parcels together, not only will the Agency Parcels generate greater proceeds, but the completed TOD Project will generate significantly greater sales tax and property tax revenue streams and further effectuate a policy goal of the Dissolution Act by encouraging transit oriented development."
But the city report goes on to note that "the overall shape of the TOD Project Site has challenged effective site planning and parking layout." The multi-level structure is planned to accommodate retail shops, indoor and outdoor dining, entertainment, a hotel, and office space. The report says that "dedicated EXPO Station parking will be provided," apparently as part of two levels of subterranean parking.
At this time it is difficult to gauge whether the amount of parking designated by a requirement of the TOD plan will be enough to serve Expo Line park-and-ride users, especially if users are headed for a game at USC. Park-and-ride options will also be available at some, but not all, of the other Phase Two Expo Line stations.
In anticipation of the possible parking crisis that may ensue during construction, the city report states that "the TOD Project Site (including portions of the Agency Parcels) is required to accommodate temporary surface EXPO Station parking pursuant to a certain Parking License Agreement dated September 29, 2011 that allows parking for up to 7 years on the TOD Project Site or when the TOD Project is developed, whichever occurs first."
"We anticipate the permitting process to take approximately two years and the construction of the project to take an additional two years," said Glenn Heald of the Culver City Community Development Department.
City Council consideration of the sale is scheduled for the July 14 City Council meeting at Mike Balkman Council Chambers. For more information see https://www.culvercity.org/en/Government/Misc/PublicNotifications.aspx