According to a story Tuesday by Andrew Khouri of the San Fernando Valley Business Journal, New Urban West has given up their fight to build condos on the old GM site in the Rancho District.
According to the story, New Urban West entered into a 90 day escrow with The Lycee International de Los Angeles school to buy the property. If something goes wrong during the escrow, New Urban West will go ahead with their plans.
There is no news as to what the school will do with the property. The school first started in 1978 in a house in Van Nuys with 30 students and today boasts campuses in the West Valley, Pasadena, Orange County and on Los Feliz with their corporate headquarters still in Van Nuys.