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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...

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