Ground Is Broken for L.A.’s Midtown Plaza

Los Angeles developer CIM Group broke ground on Midtown Plaza, a $114-million retail center at San Vicente and Pico boulevards.

The 390,000-square-foot center is expected to be anchored by Home Depot and another major retailer that has yet to sign a lease. The project’s unusual design -- stacking two “big box” retailers on top of each other -- drew objections from neighbors who were concerned about potential traffic problems. A previous owner of the site got the plan approved by the City Council in 2001.

CIM Group, which specializes in urban development, bought the property last year and expects to complete the center by mid-2006. The project will also include a new Metropolitan Transportation Authority bus terminal with 11 berths surrounded by 15,000 square feet of street-front retail.

-- Roger Vincent