The Redevelopment Agency is continuing to work on the comprehensive strategy for the revitalization of the Angela/Chanslor neighborhood. In order to provide clean affordable, safe housing, as well as financial assistance, several units have already been refurbished and the Agency will be purchasing additional properties in the future.
Pomona residents now have the opportunity to visit the newly developed Pomona Ranch Plaza. Danny Ku & Associates have partnered with YK America to develop a mixed-used project which offers tenants such as Starbucks Coffee, Herman's Restaurant and more. The already recognized tenants, Wal-Mart and WinCo Foods, anchor this 72+ acre development, strategically located at the northeast junction of the 60 Fwy and Hwy 71.
The Redevelopment Agency entered into a Development Agreement with Rancho Valley Chevrolet to sell Agency property for the dealer's expansion. The site will be fully improved to handle the increased inventory. When complete, the dealership will add 8 acres for inventory and display. Project is scheduled to begin by the end of the year.
Palomares Mixed Use Project - The Redevelopment Agency entered into a Development Agreement with Shelter Development to sell its property on Palomares Street and Mission Boulevard. The developer expects to close escrow by the end of 2006 and will begin construction shortly thereafter. Shelter Development will be constructing 70 modern and spacious condominiums and townhomes. The project will have 5 units dedicated as affordable housing units. Once completed, the project is estimated to generate $176,000 in new property and sales tax revenue.
Pasadena Development-Raymond Robert Correia and West Hill Development entered into a DDA with the Agency and purchased Agency property to develop five single-family homes in a historical style complementary to the neighborhood. Four of the homes would be sold at market rate while the Agency purchased affordability covenants on the fifth home so as to be designated for a moderate-income family.
