Tuesday, May 8, 2007
Developer picked as finalist for stadium site
The City Council decides to negotiate exclusively with Archstone-Smith to develop city-owned plot.
By SARAH TULLY
The Orange County Register
ANAHEIM - The City Council decided Tuesday to exclusively negotiate with one developer to construct an urban complex on a high-profile, city-owned plot next to Angel Stadium.
The council unanimously selected Archstone-Smith for the project on the 51.4-acre plot, which the National Football League has considered for a stadium. Archstone-Smith was one of three finalists vying to construct a development, including possibly homes, offices, shops and hotels on the property. Archstone offered the highest price to buy the land, between $150 million to $200 million.
City staff next is set to negotiate the details before the council ratifies a plan.
"There's still a lot of hurdles we have to go through, but this is a good start," Councilman Harry Sidhu said.
For previous stories, go to
www.anaheim.net and look under Platinum Triangle.