After years of speculation, it seems that the time has finally come: the Los Angeles Times will no longer call its namesake building home.

The paper's new owner, local billionaire Patrick Soon-Schiong, revealed to Times Journalists in a town hall-style meeting Friday that a relocation to El Segundo is in the works.  The Times' longtime home, located at 1st and Spring Streets in the Civic Center, was sold to Vancouver-based real estate developer Onni Group in 2016.  Soon-Schiong told his staff that the paper's management and Onni had been unable to reach a lease agreement, according to staff writer Carolina Miranda via Twitter.

In a subsequent Tweet, Miranda said that the move seems to be an "interim" solution until the Times can identify a permanent home.  The paper's Downtown printing plant at Olympic Boulevard and Alameda Street in the Arts District has been floated as a possible location.

The announcement comes less than one year after the paper's previous owner, Chicago-based Tronc, Inc., nearly closed a deal to relocate to Aon Center - a Financial District high-rise.

With the Times likely on the move, Onni Group's path to a redevelopment has become clearer.  The company submitted plans to the City of Los Angeles in 2016 to restore the historic components of the property along Spring Street and raze a 1970s expansion at Broadway to construct a pair of apartment towers.

The Los Angeles Times Building. Image courtesy of Hunter Kerhart Architectural Photography.

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Mixed-Use Development Planned Near Laguna Niguel Metrolink Station

The project is part of the city's Gateway District.

The Laguna Niguel Planning Commission has approved a mixed-use development near the city's Metrolink Station.  The joint venture between Blackwood Real Estate and Walbern, located near the intersection of Crown Valley Parkway and Forbes Road, will consist of 100 two- and three-bedroom apartments in a seven-story building.  Plans also call for 2,700 square feet of ground-floor retail space, as well as a pool courtyard, a fitness center, a private garden, and a sky deck.