A developer with big plans for a mixed-use complex has offered the City of Anaheim, California, $150 million dollars for land that the NFL has been scouting for a new franchise stadium.
"The 53-acre parcel, now used mostly for parking, has attracted wide interest from builders who hope to capitalize on the city's sports venues, the baseball stadium and the Honda Center arena. The land is also one of two Southland sites the National Football League is considering for a return to the Los Angeles market."
The developer's bid of $150 million, is three times what a professional football team would pay to build an arena on the site. The plan calls for the construction of high-rise retail, office and residential complex.
"But the competition has left the city at a crossroads -- fulfilling its dream of adding a professional football team to its stable of sports franchises, or reaping huge profits by selling off valuable land to a developer."
Read the full story: Anaheim Offered $150M for Land Near Angel Stadium
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