What happens to jilted Downey?

The electric car company Tesla bailed out of a pending deal with the city in favor of the Nummi plant in Fremont. Tesla's CEO, Elon Musk, sent Downey officials a letter in which he explained his decision and noted that the last-minute switch "sinks my heart too." Well, bully for him, but what is Downey supposed to do with all that space? From the Press-Telegram:

[City Manager Gerald Caton] said he is looking to revive a project that had been sidelined by hopes for Tesla. "When Tesla first came up, we were in the middle of working with the property owner (of the once proposed Tesla location) on a project," he said. The property owner is Industrial Realty Group, which owns Downey Studios on the 51-acre former NASA manufacturing site at Lakewood Boulevard and Columbia Way. The project that had been in the works for about 1 1/2 years is a mixed-use development called Tierra Luna - named as a nod to the site's manufacturing role in the Apollo moon missions. Last year, the project had been two or three months from going to public hearings, and now Caton hopes to get back onto that timeline, he said.

Activity at Downey Studios also appears to be picking up. But this has been a troubled site for years, so it might be a while before the city figures out what to do.


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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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