Garden Grove : Firm Has 120 Days on Development Plan

A Newport Beach company will have 120 days to put together a proposal for a $23-million development on an 8.5-acre site near the Civic Center. The City Council has approved a preliminary agreement with MRW Devcorp. giving the firm the exclusive rights to develop an area northwest of Euclid Street and Garden Grove Boulevard. Plans call for a 125-room hotel, at least two office towers, a 1,900-seat theater, restaurants, shops and condominiums. If the firm can obtain commitments from a hotel corporation for the development and if the city approves an agreement, construction could begin in 1986, and the last of four phases could be completed in five years.