LACMTA to buy LA Union Station

The Los Angeles County Metropolitan Transportation Authority board Thursday made good its oft-stated intent to approve $75 million for purchase of Los Angeles’ Union Station, a rebounding rail and transit hub. The deal, is expected to close in 30 days, includes 38 acres and development rights to 5.9 million square feet of property around the station.

Catellus Operating Limited Partnership is the seller; the partnership is itself owned by Denver-based ProLogis, a provider of distribution facilities.

LACMTA seek ownership of the national landmark anticipation of expected surge in passengers from the proposed Westside subway extension, a planned downtown connector for the region’s light rail lines, increased bus service, increased Amtrak service, and/or Californias’ proposed high speed rail system.

"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."

California High-Speed Rail Authority officials have discussed setting aside tens of millions of dollars so the agency can become a partner in the station acquisition. The authority still needs approvals from the state public works board and the California Transportation Commission.

"We will be working with MTA to ultimately determine the details behind this partnership," said Roelof van Ark, authority chief executive.