Community Redevelopment Commission to Choose Downtown Developer

The South Pasadena Community Redevelopment Commission (CRC) will hold a special meeting Tuesday at 6:30 p.m. in the City Council Chambers to discuss the choice for developer for the city's proposed downtown redevelopment project (click to read more about this project).  

Last Wednesday, Feb. 23, three developers--City Ventures, Regent Properties and Genton Property Group--made half-hour presentations to the public and answered questions from the CRC.

The March 1 meeting will begin with a public comment period and then move into a discussion by CRC commissioners Odom Stamps, Peter Kwong, Anita Artukovich, Dorothy Cohen, Paul Norlen and Reynaldo Ramirez on the qualifications of the three developers. The commission plans to select one developer after the discussion and will then recommend this developer to the City Council.

South Pasadena's downtown redevelopment project stalled in June 2009, when the developer, Decoma, announced it would no longer be able to finance the project after partner Shamrock Holdings pulled out and took $9 million in equity with them. 

The estimated $50 million revitalization project would completely transform a three-block stretch of South Pasadena, from Hope Street in the north to El Centro Street in the south and between Mound Street in the west to Fair Oaks Avenue in the east. The project includes the redevelopment of five buildings, as well as two key parcels at 1503 and 1507 El Centro Street. The city purchased these additional parcels after the termination of the agreement with the previous developer. 

The development would bring a host of pedestrian paths, gathering spaces and a town plaza to the three block area. Plans include retail, restaurant, office and banking space, as well as a 5,100 square-foot bowling alley, up to 60 residential units and 427 parking spaces. 

Some local business owners worry they could be impacted negatively by the project and remain leery of the plan (click to read previous coverage).