Genesis on Track.Mayor Richard Riordan Richard J. Riordan (born May 1, 1930) is a Republican politician from California, U.S. who served as the California Secretary of Education from 2003–2005 and as Mayor of Los Angeles from 1993–2001. Riordan ran for Governor of California unsuccessfully in 2002. is expected to announce on July 17 that Genesis L.A., the public-private partnership Public-private partnership (PPP) describes a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies. These schemes are sometimes referred to as PPP or P3. to revitalize inner-city areas, has reached its fund-raising goals. The Genesis L.A. Real Estate Investment Fund, the for-profit financing vehicle that will make debt and equity investments, has achieved its first goal of raising $71 million and it expects a total closing in excess of $100 million within 60 days. Meanwhile, McDonald's Corp. has committed up to $1 million to the nonprofit Genesis L.A. Economic Growth Corp. - the first corporate donation from a retail company to the organization. Also, six new sites have been added to the initiative: * The Lakeside Debris Basin, a 9.3-acre parcel owned by the Department of Water and Power in the Northeast San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . The site could house 200,000 square feet of biotech office space. Advanced Bionics plans to relocate its Sylmar operation to the location. * Santa Fe Santa Fe, city, Argentina Santa Fe, city (1991 pop. 341,000), capital of Santa Fe prov., NE Argentina, a river port near the Paraná, with which it is connected by canal. Freight Yard in downtown L.A., where the Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, Institute for Architecture is moving its campus. * Pico Plaza, at Pico and San Vicente boulevards, which is targeted for a proposed 280,000 square feet of two-story retail space, with Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box and Costco as tenants. * Chesterfield Square, at Western and Slauson avenues, where a Ralphs and Home Depot-anchored retail center is under construction. * Lanzit Industrial Park at 930 E. 111th Place, a city-owned site slated for a light industrial park. * CalMat (Sunquest Industrial Park) at San Fernando and Branford roads in Sun Valley, a 30-acre project that will house high-tech manufacturing businesses. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion