Local News in Brief : Developer for Prime Land
Santa Monica officials are recommending the New York-based Reliance Development Group be picked to develop 37 acres of choice land adjacent to the Santa Monica Airport. The city’s largest development project in recent history, expected to take seven to nine years and cost $180 million, will include offices and a production studio.
The City Council is scheduled to vote Tuesday on the choice of reliance over two other finalists, Watt Industries and a joint venture by Goldrich & Krest and Olympia & York, City Manager John Jalili said. The Reliance was preferred by city staff because it gave more emphasis to guaranteed revenues and provided for “low-intensity†use of the site, Jalili said.
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