TOPICS / BRIEFLY : Development: Deadline for Bids on Carson Mall Site
Federal officials have set Friday as the deadline for submitting bids to buy the government’s interest in a proposed shopping mall in Carson.
The Federal Deposit Insurance Corp. inherited $28 million in loans on the 157-acre Metro 2000 site when it took over Consolidated Savings & Loan of Irvine in 1986. The new owner will assume the loans but not a controlling interest in the property.
FDIC spokesman Andrew Porterfield said advertisements in the Wall Street Journal and other publications have brought in requests for information about the property from all over the country, including from loan brokers and finance companies.
“There’s been lots of interest,” Porterfield said. “But I don’t know how many people are just kicking tires.”
The sealed bids will be reviewed Friday night, and the highest bidder will win. Depending on how the sale is financed, the transaction could take several weeks to complete, Porterfield said.
Development of the proposed mall has been slowed by cleanup of environmental hazards at the site, formerly the Cal Compact landfill. It is being developed by a partnership of several organizations, including the Southern California and Arizona Glaziers, Architectural Metal and Glass Workers Pension Fund. The pension fund also has made a bid on the property.
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