City Council to consider sale of property
City Council members will vote on a proposal Monday calling for the sale of a 2.5-acre property in the city's hands to a developer interested in building a 342-unit multi-residential development.
The proposal calls for selling the vacant property on Commercial Street east of Garey Avenue for $1 million to Monterey Station LLC and developer Darren Olsen, according to a city staff report.
The developer plans to purchase the city's property and land from other property owners to build the rental units in two phases.
The development would include a mix of lofts and live-work units along with studio, one bedroom and two bedroom apartments that would all be available at market rates, the staff report said.
The closed portion of the council meeting will begin at 5:30 p.m. and the open portion at 6:45 p.m. at Pomona City Hall, 505 S. Garey Ave.
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