Hawaiian Gardens will get a Home Club store that is expected to bring with it as many as 190 jobs and $300,000 a year in sales tax revenue under a development agreement approved Tuesday by the City Council, which also serves as the city’s Redevelopment Agency.
The store, the 42nd in the nation for the Home Club chain, will be located on Norwalk Boulevard just south of Carson Street. Under the development and disposition agreement that the council approved, Gordon F. Sadkin, a commercial real estate developer from Torrance, is buying the land from the city and will lease it to Home Club.
David Meyer, the city’s redevelopment consultant, said it cost the city $4,089,359 to acquire the land and do preparation work such as demolishing old buildings and removing hazardous diesel fuel. The city is selling the land to Sadkin for $2,776,300 but will recoup the difference of $1,313,059 over the next 15 years through property taxes that Sadkin pays, Meyer said.