A $25-million loan to restore five former Gemco sites, including one in Bellflower, has been awarded to a Manhattan Beach development firm by the Los Angeles County Board of Supervisors.
Haagen GDH Partnership plans to open a major retail store on the nine-acre Bellflower site, such as a Target or Price Club, said Ron Winkler, assistant executive director of the Los Angeles County Community Development Commission. The project will provide about 950 jobs to low- and moderate-income persons, Winkler said. One of the requirements of the 18-month loan, which is from Community Development Block Grant funds, is that jobs must be created for persons at low income levels.
The Gemco site at 17220 S. Lakewood Blvd. has been closed since February, Bellflower officials said. All 80 stores in the 27-year-old Gemco chain were liquidated by Lucky Stores, their parent company, in an effort to deter a $1.8-billion takeover attempt.
The other four Gemco sites covered by this loan are in Pomona, Glendora, Lancaster and at 1111 Florence Ave., Downey.