El Monte Gateway project hits milestone
El Monte Gateway, the largest transit-oriented development west of the Mississippi, could help transform the city into a national model for smart growth and regional planning, officials announced this week.
Construction begins this week at the El Monte Gateway project, a state-of-the-art mixed use development comprising housing and commercial retail space linked to one of the region’s busiest public transportation centers.
“The Gateway project is transformational in so many ways – as an economic catalyst for the region and as a model for addressing the housing, mobility and quality of life challenges communities everywhere now face,” said James Acevedo, Chief Executive Officer and Managing Partner for Grapevine Development LLC, the project’s developer. “El Monte is a community with tremendous potential as a center of excellence.”
The groundbreaking on Gateway Parcel 4 represents a significant milestone for the project, comprising 25,000 square feet of retail space, 208 market-rate apartments and two levels of parking within a four-story building located a short walk from the El Monte Transit Station.
“We’re honored to work with the City of El Monte the California Department of Housing and Community Development on this important public-private partnership that will have a lasting, positive impact on the community and region for decades to come,” Acevedo said.
Project financing for the El Monte Gateway project is being provided by the ROMSPEN Mortgage Investment Fund. Architectural work was done by SVA Architects.