Norwalk : Plans for Ex-School Site
Although formal plans have not been submitted, a $75-million project being developed by London Pacific Investments Inc. for the former Wright Elementary School site was given conceptual approval by the City Council acting as the Redevelopment Agency.
The Santa Monica developer showed preliminary plans for the 21-acre site to the council last week. They include a hotel, retail stores, an office building and apartments. Bill Nevius, assistant director of the Redevelopment Agency, said the city staff is still negotiating with the company on the development agreement.
The Norwalk-La Mirada Unified School District, which closed the Wright site in 1979, entered into a six-month escrow with London Pacific Investments last month that calls for the sale of the property for $9 million. A $2-million down payment is due at the end of escrow.
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