(To read more on the multifamily market, click here.)
AZUSA, CA-Lowe Enterprises of Los Angeles plans 66 condominiumsand 32,500 sf of retail space on a newly acquired site in thiscity's downtown. The project, which will also include a 330-spacesubterranean parking structure, is described as apedestrian-oriented development at the southeast corner of FoothillBoulevard and Azusa Avenue.
The Azusa City Council and the city's redevelopment board haveapproved a disposition and development agreement with Lowe thatincludes the sale of 1.8 acres to the Los Angeles-based developmentand investment firm. According to Azusa's city manager, FranDelach, the project "will serve as a catalyst for the renaissanceandrevival of the downtown core of Azusa."
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