(Planned Shopping Center)
Van Nuys, CA
A client of Winco acquired a small parcel of land adjacent to an approximate 5 acre parcel of property owned by the Metropolitan Transportation Authority MTA. The combined properties had in excess of three different zoning designations, primarily for residential use. Given the location of the property, we undertook rezoning the property to commercial use. Concurrently we negotiated a joint venture with THE MTA which was the first in the history of THE MTA . After approximately 5 years of work, the MTA property was acquired. The rezoned and combined land was subsequently sold to a retail developer, who developed a market anchored shopping center.