LAWSUITS NEWS & LEGAL INFORMATION
Construction Traffic
Los Angeles, CA: (Jan-08-08) Tract 7260, California Country Club Homes Assn., Cheviot Hills Homeowners Assn. and Westwood Homeowners Assn. brought charges against the developer of the Constellation Park project, Century City Realty LLC, a subsidiary of JMB Realty Corp., over the construction of two 47-story and one 12-story luxury condominium buildings in Century City. The homeowners groups sued, alleging city officials had vastly underestimated the amount of traffic the project would generate. City analyses showed the development, 483 units on 5.5 acres on Constellation Boulevard at Avenue of the Stars, would create less traffic than the small bank and nightclub on the site.
Sources stated that the two sides had reached a settlement agreement, in which Century City Realty LLC agreed to pay $2.25 million to a mitigation fund overseen by four groups representing homeowners near Century City. The plaintiffs stated that the money will be given to help local schools, libraries, parks and fire and police facilities near Century City, as a way to help cope with the project's effects. Sources claimed that the $2.25 million comes atop $5 million that JMB had already promised to pay, bringing the total mitigation fund to $7.25 million. [LOS ANGELS TIMES: CONSTRUCTION TRAFFIC]
Published on Jan-9-08
Sources stated that the two sides had reached a settlement agreement, in which Century City Realty LLC agreed to pay $2.25 million to a mitigation fund overseen by four groups representing homeowners near Century City. The plaintiffs stated that the money will be given to help local schools, libraries, parks and fire and police facilities near Century City, as a way to help cope with the project's effects. Sources claimed that the $2.25 million comes atop $5 million that JMB had already promised to pay, bringing the total mitigation fund to $7.25 million. [
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