MONTEREY PARK, Calif., May 22 /Xinhua-PRNewswire/ -- First California Equity Group, LLC, recently announced their plans to redevelop the property located at 220 North Atlantic Boulevard, Monterey Park, the former site of the Sunday Cafe restaurant. The project was approved on May 8, 2007 by the City of Monterey Park Planning Committee. The $40 million, 54-unit mixed-use condominium and retail complex will serve as a catalyst to revitalize the underutilized North Atlantic Corridor by introducing visually stunning architecture, a pedestrian-friendly environment, and enhanced community and commerce to the city. The project will seek to become Monterey Park's first environmentally sustainable site development by adhering to Leadership in Energy and Environmental Design building and operation standards. LEED certification requires that builders adhere to a whole-building approach to sustainability through water savings, energy efficiency, materials selection and attention to indoor environmental quality.
Thoughtfully designed with Monterey Park's residents in mind, the project has been planned to encourage community. The site will incorporate a coffee shop and an upscale, 400-seat California fusion restaurant with space that may be rented by the public for private functions such as weddings, birthday parties, and corporate events. Nearly 20,000 square feet of landscaped, park-like open space will be available for public gathering, art and music performances. This space will also incorporate tasteful art and water-feature sculpture for the public's enjoyment. In order to minimize visual clutter and land waste, all parking at the site will be underground. Guests to the complex will experience maximum convenience with first-class valet parking service.
"The Springfield project represents a new standard of luxury living for both residents of Monterey Park and future owners of the condominiums. The project will exceed the design standards set forth in the City of Monterey Park's General Plan, which was created in 2001 to create a vision for the downtown area. In addition, it will provide residents of Monterey Park with increased public space, high-paying jobs in the project's management office, restaurant and shops, and tax revenue from on-site commerce. We are proud of the leadership role we are taking in creating the future of this great community and grateful to the city's leaders for their counsel in the creation of this project," states Jason Chung, Owner and Developer, First California Equity Group, LLC.
The project is scheduled for completion in Summer 2009.
