The City Council has narrowed to five firms the list of potential developers for the 125-acre Towne Center project, city spokesman Tom Robinson said.
The five were selected from 30 potential developers that expressed interest in the $225-million office, shopping and theater complex after negotiations between the council and the Alexander Haagen Co.--the city's first choice to guide the project--collapsed in late November. The city and Haagen, a Manhattan Beach-based firm, were unable to agree on how profits from the project would be divided, officials said.
Robinson said the five companies being considered are General Growth of Canoga Park, Donahue and Schriber of Costa Mesa, Tishman West of Orange, Transpacific Development of Los Angeles and Tutor-Saliba of Sylmar. General Growth was in the running a year ago when Haagen was selected, and Tishman West was a partner at one time with Haagen on the Towne Center project before dropping out of the project.
Council members say the development--which is to include a 400-room hotel and convention center, a mall with three major department stores, a 600- to 750-seat community theater and seven office buildings--still is the city's top priority.