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SOUTH GATE, CA-Red Mountain Retail Group of Santa Ana and Allied Retail Partners of Newport Beach have secured $43 million in financing through Holliday Fenoglio Fowler for the purchase of a 32-acre site where a joint venture of the two companies is developing a 600,000-sf retail project. Called the Gateway, the lifestyle center will occupy a site at the northwest corner of the high-traffic intersection of Atlantic Avenue and Firestone Boulevard.

HFF managing director Mike White arranged the financing with Wachovia for the joint venture of Red Mountain and Allied. The partners expect to begin construction on the new center in the second quarter of next year and to complete it in 2008.

The Gateway project is being designed by Irvine-based KTGY Group Architecture and Planning. Greg Lyon, principal at KTGY in Santa Monica, says the new center will create a “celebration of brands” through its use of various advertising and display media.

For example, the project will feature a variety of static building wall posters, big screen images, streaming commercials, TV programs, interviews with entertainment and sports figures, movie trailers and live broadcasts. The design firm Romero Thorsen Design of Santa Monica is also working with KTGY and the City of South Gate on the design of the project.

The Gateway project is slated to include major large format retailers as well as promotional, lifestyle and shop retailers, full-service and quick-service restaurants and cafes. Officials in South Gate have supported the project as a way to keep retail tax dollars in the city, which found in a 2004 retail market study that South Gate residents spend more than $220 million a year on retail purchases outside of the city, a figure that continues to grow.

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