Attendees of the first GMPCC DD&P (Dimsum, Doughnuts & Pan Dulce) mixer came away with a glimpse of Monterey Park’s future. The event featured Michael Huntley, Director of Community & Economic Development for the City of Monterey Park.
Mr. Huntley spoke about several major projects currently in the works within the city. The first, the Atlantic Gateway Courtyard by Marriott to be located at the corner of Atlantic and Hellman Ave., recently broke ground and now the old buildings are being demolished. Its a six-story, 288-room hotel to focus on international business travelers. It will not feature a large event facility out of concern for their neighbors but will include retail/restaurant space opportunities. Parking will be subterranean will feature 365 spaces (14 surface-level). There are two other potential hotel projects along Atlantic Blvd. but they are still in the planning or permitting stages.
The other major project in town is the Monterey Park Marketplace. The site of the project is along the 60 freeway (the old auto wrecking yard site). This project, which has been going on for over 20 years, is finally moving further along since the developers, M&M Realty Partners just recently closed escrow on the last of all the properties necessary to build. This was a “superfund” site and was the dumping site for a number of oil companies. Home Depot, In & Out are confirmed tenants. The developers are negotiating with other national tenants. Although the first phase of the project will be focused on large, national tenants, Mr. Huntley stated that there may be opportunities for local businesses in their subsequent phase.
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