Los Angeles County transportation officials approved an agreement Thursday to buy historic Union Station in downtown L.A. for $75 million — a purchase that will clear the way for the expansion of transit operations and new development on the property.
The Los Angeles County Metropolitan Transportation Authority board decided to buy the rail hub from Catellus Operating Limited Partnership, which is owned by ProLogis based in Colorado. The deal, which is expected to close in 30 days, includes 38 acres and development rights to 5.9 million square feet of property around the station.
"Union Station is absolutely critical to the current and future mobility of our region," said county Supervisor Don Knabe, chairman of the MTA board. "We now have the ability to retain the historic nature of Union Station and prepare it to serve as a world-class, 21st century transportation hub."
MTA officials wanted control of the station to help accommodate an expected surge in passengers from the proposed Westside subway extension, a planned downtown connector for the region's light-rail lines, increased bus service and the state's high-speed rail system if it is built.