L.A. Developer Revives $1.6B Angels Landing Lawsuit
Developers Seek $20 Million Recovery After Wrongful Termination Claims The Peebles Corporation, along with its development partners, is taking an assertive legal stand against the City of Los Angeles. They are seeking $20 million in damages, citing wrongful termination of their exclusive agreement for the Angels Landing project. Their countersuit claims that political interference and discriminatory practices led to their exclusion. This pertains to the $1.6 billion downtown development initiative. The case has drawn significant attention, with some noting the senior housing boom as another key factor reshaping downtown development priorities. Court documents highlight allegations of breach of contract by city officials. They also point to a failure to uphold contractual obligations. The financial stakes of this case are significant, potentially affecting future public-private partnerships in Los Angeles. Industry experts caution that this dispute might reshape how major development a...