WILSON YARD

We are underway! Site work for the new Aldi store began early this year, and weather permitting, we will begin store construction in June 2006. The new Aldi should be open by mid December 2006.

After a lengthy and exhausting try we just couldn’t get the movie theater economics to work. The construction costs for the theater stacked on top of our two story big box are higher than any theater company can handle (and we did try numerous movie operators).

On the bright side, Target is moving along aggressively on a new design, and the loss of the theater lobby creates additional street level retail opportunities along Broadway.

All financing and approvals for the Wilson Yard project are in place. Once the new Aldi store is occupied at year end, we will demolish the old Aldi.  We will attempt to disassemble the terra cotta façade of the Azusa building later this year.  Construction start for the balance of the site should start early in 2007. Included is the Target, more retail space the parking structure, the
Senior building, and the affordable apartment building