Article: MTA swaps Venice lot for construction of new facility.(Real State)

A 3.1-acre parcel in Venice that has been a lowly bus yard is about to get a facelift as part of a land-swap deal worked out between a local developer and the Metropolitan Transportation Authority.

As part of the deal, RAD Jefferson LLC will gain title to the 3.1-acre parcel bordered by Main Street, Thornton Place and Pacific and Sunset avenues, which has operated as an MTA bus yard for decades and is valued at $12.9 million, according to the MTA. In exchange, RAD Jefferson will build a new bus facility on a 4.7-acre site on Jefferson Boulevard near National Boulevard.

RAD Jefferson is led by real estate investor Robert D'Elia, principal of GTO Hampton ...

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