The Metropolitan Transportation Authority agreed to negotiate with Lowe Enterprises on the development of a 15.6-acre mixed-use project near the North Hollywood Metro Red Line station on Lankershim Boulevard. Since August 2006, developers have been bidding on the project. The proposal by the Los Angeles developer is called the NoHo Art Wave and will be about 1.7 million square feet, consisting of offices, retail and residential space, and sprinkled throughout with community and public areas. NoHo Art Wave “allows us to apply our team’s diverse expertise to an important site in our home town,” said Robert Lowe, company chairman and CEO. “Given the size of the development and its location,” Lowe said, “we believe it will become a commercial center that attracts businesses by offering new office space, with easy access to public transportation and many nearby amenities.” At the conclusion of negotiations, Lowe Enterprises will undertake the planning, execution and management of the project. The company has teamed with architect and planning company AC Martin Partners to create a conceptual master plan, the goal being not only to enhance the area, but also to increase the aesthetic experience of commuters making connections on the Metro subway and buses at the North Hollywood Red Line, Lowe stated in a news release. The design will also complement the aesthetic sensibility of the NoHo Arts District, the news release said. MTA and Lowe will spend the next several months negotiating and discussing project ideas, said Thomas Wulf, senior vice president of Lowe. “Our team is dedicated to creating a signature development for Los Angeles that will engage the community as well as attract other businesses and residents to the area,” Wulf said.
