(Read more onthe multifamilymarket.)

MONTEREY PARK, CA-San Marino-based First California Equity GroupLLC plans a 54-unit mixed-use project called the SpringfieldCondominiums that will include a retail complex and will seek tobecome Monterey Park's first LEED-certified development. Theproject, recently approved by Monterey Park city planners, will bedeveloped on a site at 220 N. Atlantic Blvd. that formerly housedthe Sunday Cafe restaurant.

First California expects the mixed-use development to serve as acatalyst to revitalize the underutilized North Atlantic Corridor byintroducing new architecture and a pedestrian-friendly environment.Robert Kim, who runs the day-to-day development operations for theSpringfield Project, tells GlobeSt.com that the company expects tobegin construction of the project within the next six to ninemonths and to complete the development within 18 months of thestart of construction.

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