Developer Shea Properties will spend more than $130 million on the new Alhambra Place, a mixed-use retail and residential complex at Garfield Avenue and Main Street, the Los Angeles Times reports. The project calls for demolishing all of the buildings at the site except for the former Mervyn's building, which will be renovated and become part of a new retail and dining complex.
The developer has not yet set rental rates for the apartments, but they are expected to compete with similar spaces in downtown Los Angeles and Pasadena, Andres Friedman of Shea Properties told the L.A. Times. The apartments facing East Bay State Street will have classic brownstone features while the architecture on Garfield will be a contemporary design.
The retail half of the project is scheduled to be completed by summer, and apartments should be available by fall 2016, according to the L.A. Times.
Read the full story from the Los Angeles Times.