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Monterey Park's Mura Project: City Officials Wanted More Retail

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Less herb stores, more Targets? Taking a look at Mira Residences, the planned development previously covered on Curbed, the LA Times highlights the economic and cultural shifts going on in Monterey Park. The paper reports developer Jason Chung is marketing his six-story condominium project as a luxury building, aimed at wealthier Chinese immigrants, but that city officials had hoped that "Chung's land could have been joined with adjacent parcels to create a tax-generating shopping complex." While Monterey Park has plenty of small "mom and pop" stores, the city is hoping to lure chains to the city to boost its non-existent tax revenue (the city will have a $2 million deficit by 2011). For some, according to the paper, the city's model is nearby Alhambra, which has lured chain stores like Target, but also kept its smaller stores. In the meantime, more chains are planned--half the tenants will be chains at the Atlantic Times Square on Atlantic Boulevard, according to the Times.
· Monterey Park tries to find itself [LA Times]
· New Look at Monterey Park's Mira, with Pool in Front [Curbed LA]
· Two Names for One Condo Project in Monterey Park [Curbed LA]