Convert a very blighted 5-acre parcel on one of the premier intersections in Monterey Park, CA into a functional retail center. For years an assortment of auto uses, parts stores, a credit union, closed restaurant, etc. covering 6 parcels kept this very good location from being redeveloped. The City desperately wanted to create a first class “gateway” retail project.


During an initial RFP and subsequent 18-month entitlement period of the parcels and businesses, Mr. Morris worked closely with the City Redevelopment Agency, which had initially acquired only 3 of the 6 parcels. Mr. Morris helped reached an agreement for the credit union to relocate into a new facility in the new project. Both developer funds and redevelopment funds were used to acquire the entire property and then a 5-month remediation period was undertaken before final closing to remove 3 hydraulic lifts, a paint booth, a clarifier and 2 waste oil tanks left in the auto service parcels. Both LA County Fire and the Regional Water Board were engaged proactively on the remediation process. When the clean-up was completed, the escrow closed with full entitlements for a new retail center and the outdated improvements demolished.


In 1994, few tenants were more prominent or had higher sales per square foot than The Good Guys electronics and Tower Records. Despite the long odds for a Monterey Park location, Mr. Morris secured both primary tenants for the project, establishing very high sales tax generation for the City on a relatively small property. The credit union was relocated and a number of food and service uses added. The entire frontage of Atlantic Blvd was renovated including the median creating the gateway effect the City desired as the “front door” to the City. Today Staples and Walgreens have replaced Good Guys and Tower Records. The project was not only very successful, but significantly jump started redevelopment on the Atlantic Blvd corridor for Monterey Park.