Ground breaking for a 500,000 square foot major shopping center is scheduled Wednesday, Nov. 16, by M&M Realty Partners, the New Jersey Development Company and the city of Monterey Park. The invitation-only ceremonies will be held at the site located at south Monterey Park next to the Pomona (60) Freeway.
The main anchor store for the shopping center will be a Home Depot Hardware store. Costco wholesale market was also recently announced as a tenant for the site. Cosco will move form its Montebello location to Monterey Park.
Other promised tenants include In-n-out and a Chick Filet fast-food restaurants. The completed shopping center is expected to give the city of Monterey Park a large boost in revenues from sales taxes and property taxes.
About 10 years ago, a previous developer held a ground breaking for a shopping center that never was built. The project needed agreement amoung many key parties, including the property owner, Cal Trans, Southern California Edison, Monterey Park, and federal agencies. For more information contact the city offices at (626) 307-1255.