DigiCo withdraws plans for LA data centre project
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The news: HMC Capital’s data centre business DigiCo has withdrawn its application for a proposed Los Angeles project LAX1 following advice from the council for the City of Monterey Park that planning approval was uncertain at the end of last year.
The numbers: LAX1 and LAX2 assets are held at a book value of USD71 million ($102.63 million).
The context: LAX1 and LAX2 were planned as two adjacent data centres that would have provided 66 megawatts of capacity.
In an announcement, DigiCo told the exchange that the City Council had provided advice that “planning approval for a data centre use at the site was uncertain as at 31 December 2025”.
What they said: “We have voluntarily withdrawn our application for a data centre project at LAX1. We will work with the City of Monterey Park Council to establish an alternative use for the combined 33 acres of land, with a view to efficiently recycling the capital invested in both sites,” DigiCo interim CEO Chris Maher said.
The source: ASX
