Hollywood Parking Dispute Settled

An affiliate of property owner Meringoff Equities has agreed to drop a lawsuit that has delayed the construction of a $50-million shopping and entertainment center at Sunset Boulevard and Vine Street. Meringoff had claimed the project by Beverly Hills-based Regent Properties would reduce the amount of parking available to its tenants and other nearby businesses. In return, New York-based Meringoff will get about half of the 500 spaces in a new garage that will be built by the city of Los Angeles. Meringoff will pay $2.5 million toward construction and lease the spaces for 55 years.