LOS ANGELES (CBSLA.com) — City officials are hoping a $20 million shopping center project set to open for business in South Los Angeles will spur the local economy and attract investors.
KNX 1070’s Ed Mertz reports the development project located at Central and Slauson is nearing its debut after a nearly 20-year struggle.
City Councilman Curren Price – who calls the 6.5-acre Slauson Central Retail Center the first of its kind in the city’s 9th District in about 40 years – said the outlet will feature stores that other communities take for granted when it opens in April.
“Northgate Supermarket, Panda Express, Starbucks, CVS [drug store]” Price said. “That’s a big deal here in South L.A.”
The redevelopment project is being funded by $7 million in public subsidies and developed by a partnership with Concerned Citizens of South Central Los Angeles (CCSCLA) and Regency Partners, the largest grocery store center developer in the country, according to a report from USC Intersections.
With over 400 parking stalls and spanning over 77,000 square feet (PDF) of building space, the Slauson Central Retail Center hopes to spur economic activity and investment in the 9th District, where 60 percent of residents don’t have a high school diploma, according to Price.
While local shoppers will benefit from the project, the shopping center will also serve as a symbol that South Los Angeles is business-friendly and ready for investors, said Price.
“They want to know that the atmosphere’s conducive for investment, they want to see the red tape pushed away, and I think they’re right,” Price said. “I think we need to do some things differently.”
The 9th District spans from Staples Center, L.A. Live to USC and Exposition Park and south to about Century Boulevard.