Azusa : Luxury Apartments Set

In what city officials say is a beginning of an effort to spruce up the city’s downtown business district, an agreement has been reached to bring a 141-unit, luxury apartment complex to the corner of Foothill Boulevard and San Gabriel Avenue.

The $11-million project will combine 1- and 2-bedroom units. Officials hope the development will add to the area’s aesthetics while attracting well-heeled tenants to help revitalize the venerable downtown.

“This will take 5 1/2 acres of pretty dilapidated units and make it something presentable,” said Robb Steel, city redevelopment manager. “It’s just a shot in the arm.”

The City Council last week completed a deal that had been in the works for two years with CoastFed Properties Inc.

Under the agreement, Azusa will contribute up to $1.8 million to buy the land and prepare the site, negotiating with eight property owners in the process. The city’s Redevelopment Agency hopes to receive about $110,000 a year for 25 years.

Steel said ground breaking could come late next summer.