Community Redevelopment Commission Picks Genton Property Group for Downtown Project

Genton Property Group has emerged as the Community Redevelopment Commission’s pick to take on the city’s proposed downtown redevelopment project.

 At Tuesday night’s special meeting, the CRC discussed the qualifications of Genton along with City Ventures and Regent Properties. Commission chairman Odom Stamps said Wednesday that local ties and financial strength helped Genton stand out.

“Several members of Genton also actually live in South Pasadena,” he said.

The downtown redevelopment project stalled in June 2009 when the developer, Decoma, announced it would no longer be able to finance the project after partner Shamrock Holdings pulled out, taking $9 million in equity with them. 

The estimated $50 million project would give a face-lift to a three-block stretch of South Pasadena, from Hope Street in the north to El Centro Street in the south and between Mound Street in the west to Fair Oaks Avenue in the east. The project includes the redevelopment of five buildings, as well as two key parcels at 1503 and 1507 El Centro Street. The city purchased these additional parcels after the termination of the agreement with the previous developer.

The development would feature pedestrian paths, gathering spaces and a town plaza to the area. Plans include retail, restaurant, office and banking space, as well as a 5,100 square-foot bowling alley, up to 60 residential units and 427 parking spaces. 

The project is not without opposition. Several business owners and residents in the area have expressed concerns about the project’s phasing, parking issues and overall size. Others are worried the project could have the same negative business impact as the work being done on Fair Oaks Avenue.

But Ellen Daigle, owner of Ellen's Silkscreening, had praise for the commission's choice of developer. She said she hired a consultant to look at the proposals of the three developers, and that Genton looked like the top pick.

"I was really delighted to see they picked Genton. I had researched it ... it was a great pick. I was surprised everyone voted the same. The next thing is what happens with stakeholders. Are they really going to listen to them, are they going to be proactive about getting the right kind of parking, are they going to impact merchants the same way, and are they going to do something with the Rialto?" she said.  “They have more experience than anyone else. They are pretty visionary and proactive. This thing is, our town is very special. How do you keep the flavor of the town? The whole reason for this project is to reactivate the retail area."

Genton will be recommended to the City Council at tonight's meeting.