Change of Heart

Remember the crazy situation in which AES could not keep its old power plant in the city of Redondo Beach but could neither build a replacement plant nor redevelop the land into a mixed-use complex? (See the Los Angeles Business Journal’s coverage here.) The Daily Breeze reports that the city and the company have made a truce, at least temporarily. The company will suspend its quest to build a power plant and look to develop its 50-acre waterfront site for shops, hotels or other non-industrial uses.