Nine months after demolishing a small commercial building at Bay and Monterey Streets in Alhambra, Temple City-based real estate development firm Ares Property Investment, LLC is hard at work on the mixed-use project which will takes its place.
The project, located on a 1.45-acre site at the northeast corner of the intersection, will include 62 condominiums, approximately 27,000 square feet of ground-floor commercial space, and structured parking for more than 420 vehicles.
Simon Lee & Associates is designing the development, which renderings depict as a contemporary low-rise building. A large setback facing an alley along the eastern property line would be used to create a residential amenity deck, while additional private open spaces would be provided through cantilevered balconies along Bay State and Monterey Streets.
The new construction will consist of a podium-type building at the intersection of Bay and Monterey, as well as a standalone parking garage to the north.
An environmental study adopted by the City of Alhambra points to an 18-month construction timeline for the project.
- Alhambra (Urbanize LA)