LA.StreetsBlog.org has debunked the argument that JMB Realty, which has donated to the political efforts of Los Angeles Mayor Antonio Villaraigosa, is off the Westside Subway Extension.
Villaraigosa is the chair of the Metro Board of Directors, the body that makes the final decision on the subway route.
Articles have been published alleging that JMB stands to make $38.7 million if the Century City stop of the subway is located at Constellation Boulevard and Avenue of the Stars on a tract of land owned by the realty company.
Depending on which side of Constellation Boulevard the Century City station is built on, the land is either owner by JMB or the Hyatt. At this point, the Metro board has yet to make a decision on the final placement of the Century City station.
According to LA.StreetsBlog:
...Metro doesn't know what the exact cost of station construction will be because Metro doesn't know what the real estate costs will be to purchase property. Negotiations between Metro and land owners won't begin until after the project completes the "Final Design" stage.
To read the LA.StreetsBlog article, click here.