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Angelo, Gordon & Co.
Developers see Pasadena as an inland version of Silicon Beach
Developers see Pasadena as an inland version of Silicon Beach

Historic Old Pasadena, a restored section of the city's downtown bustling with shops and restaurants, is getting more high-tech. Three older buildings at a busy intersection on Raymond Avenue will be transformed into a hub for budding technology firms in a real estate development backed by a prominent Silicon Valley entrepreneur and investor. David Sacks, who was instrumental in the launch of two $1-billion Internet companies, has joined Los Angeles developer Rising Realty Partners in a project to turn three century-old buildings into offices for tech firms. The builders hope to spur more young tech businesses to set up shop in Pasadena, which has a long history as a center of...

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