LITTLE TOKYO : Developer Seeks $30 Million After City Cancels Project
A Los Angeles developer who was hired nearly six years ago to build a massive complex in Little Tokyo is seeking more than $30 million in damages in the wake of the City Council’s decision last month to scrap the project.
Barker Pacific Group filed a claim against the city Friday seeking compensation for the millions of dollars it has invested in the development, known as 1st Street North.
“We acted in good faith,’ said Michael D. Barker, the managing director for Barker Pacific. “To kill a project at the last minute is beyond belief.”
The project was to have included a municipal office tower, a hotel and an apartment complex and shopping center on 11 acres of city-owned property bounded by 1st, Alameda, San Pedro and Temple streets.
City Council members, however, said that they could no longer justify building the $151-million complex at a time when the city is reducing its staff and expenses.
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