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Article: Real estate industry takes only a wait-and-see stance on Green Line. (Metro Green Line)(Real Estate)
- Article from:
- Los Angeles Business Journal
- Article date:
- April 24, 1995
- Author:
CopyrightCOPYRIGHT 1995 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Metro Green Line, scheduled to open this June, has the real estate community taking a cautiously optimistic but largely wait-and-see attitude about how the line will affect rail-vicinity properties when service begins. The light rail line follows the Anderson (105) Freeway for much of its route, extending westward from Norwalk, through El Segundo and to its terminus in Redondo Beach [ILLUSTRATION OMITTED].
Several industry sources agreed that the new rail service should certainly be a factor in determining how the adjacent real estate markets are developed, though no one was sure just how big a factor. Bullish sources said they are hopeful the Green Line would ...