23 Acre Industrial Site Sold

The Los Angeles Unified School District has agreed to pay $50 million to settle an eminent domain dispute with Meruelo Maddux Properties over 23 acres of land in Cypress Park which is located north of Downtown Los Angeles.  The site is commonly referred to as Taylor Yard.  Meruelo Maddux originally purchased the site for $31.8 million, snatching it from the claws of the LAUSD.

Here is another example of the misdirected LAUSD board removing more industrial zoned land from the city.  They should take residential properties for schools not industrial as industrial properties create the sorely needed jobs for L.A. denizens, especially the lower classes that live in Cypress Park.

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