REDONDO BEACH, Calif. (KABC) -- An anonymous buyer has purchased the AES power plant in Redondo Beach.
The plant had been on the market for more than two years. The mayor's office says a deal will likely be finished in a month or so. There has been no word on the sale price.
Last year the city of Redondo Beach made a proposal to purchase the land for $40 million. The buyer is purchasing the 51-acre property "as-is" and will be responsible for demolition and remediation.
Now the battle over the fate of the property will begin. Currently the property is zoned for parkland or power generation. Any re-zoning for commercial use would need the approval of the voters.
Several efforts to change the zoning law to allow residential and commercial projects have been rejected by the voters.
The land has been used for power generation since 1907.
Anonymous buyer nabs AES power plant in Redondo Beach