NBC Universal develop new plans

Plans have been shelved for MetroStudios@Lankershim, a controversial 1.5 million square foot office tower planned atop a subway stop near Universal City, executives at Thomas Properties Group said Wednesday. Dakota Smith in the Daily News.
In a statement, Thomas Properties Group said real estate market conditions led to the cancellation of the project, which was intended to house NBCUniversal as an anchor tenant. Additionally, NBCUniversal's needs have changed, said executives at the media company.

"While we are disappointed that the project is not in a position to proceed at this time due to the economic climate and its impact on the real estate market, we continue to have a strong working relationship with NBCUniversal," James A. Thomas, chairman and CEO of Thomas Properties said in a statement.