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It's official: the City of Los Angeles has closed escrow on the 42-acre G2 parcel, considered the "crown jewel," of $1.6 billion effort to restore the L.A. River.

Located on the river's east bank in the Cypress Park neighborhood, the G2 parcel is the last remnant of the Union Pacific Railroad's former Taylor Yard.  The remaining portions of the 250-acre site have already been transformed into park space, a public school and the Taylor Yard Transit Village.

The purchase was facilitated by a $60-million allocation by the City of Los Angeles, as well as a $25 million in funding from the State of California.

A conceptual rendering included with the press release shows what the G2 parcel could look like following habitat restoration.

The full river restoration project would remove concrete and add landscaping to an 11-mile stretch of the meandering waterway between Griffith Park and Downtown Los Angeles.

Image via L.A. Mayor's office

Data Center Planned for Parking Lot Near Union Station Terminal Annex

Transit-oriented data center?
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A large parking lot next door to the Union Station Terminal Annex Building is slated for development as a data center. CoreSite Realty Corp., a Denver-based owner and operator of data centers across the country, is behind the proposed development, which would raze the parking lot at 900 N. Alameda Street for the construction of a four-story, 93-foot-tall data center with nearly 180,000 square feet of floor area.