Councilmember Herb Wesson and community stakeholders will break ground on a new retail commercial center at Pico and Hauser Boulevards. Participants will also include representatives from the United States Department of Housing and Urban Development, the city’s Community Development Department, U.S. Bank, and TELACU.
The groundbreaking ceremony will be Thursday, May 26, at 9:00 am at 5450 West Pico Boulevard, Los Angeles (Parking on site at Pico and Hauser Boulevards).
Located in the Wilshire Vista community, the Wilshire Vista Plaza has been an important economic development project that has been advanced through the leadership of Councilmember Herb Wesson and supported by community stakeholders.
The development will consist of a 14,000 SF retail commercial project located in the CRA’s Mid-City Redevelopment Project Area
The project will build on the site of an unsightly auto-body shop on Pico Boulevard, which is being eliminated. 500 construction and 65 permanent jobs are being created. Construction began last month and with the center to open in April of 2012.
The project was financed with a HUD Section 108 Loan, U.S. Bank, and developer equity. The Community Development Department will administer the HUD loan. Possible tenants who have expressed interest include Starbucks, Coffee Bean, Subway, cell phone companies and a bank.