Arcadia : Renewal Project Starts
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Work has begun on a $33-million redevelopment project on 11.5 acres at Huntington Drive and 5th Avenue.
The site will be occupied by a 132-room Hampton Inn, a 120-room Residence Inn, a Souplantation restaurant and a pair of two-story office buildings.
The Arcadia Redevelopment Agency, which bought the property for $8.7 million, sold the land to Emkay Development Co. of Newport Beach for $5.5 million. The agency expects to receive $853,000 annually in property, sales and transient occupancy taxes.
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