DOWNEY — The City Council Sept. 8 approved the sale of a city-owned property at 8132-34 Third St. to Olson Urban Housing for $700,000. Plans call for construction of 30 to 34 condominiums, a city spokesperson said.
The vote was 3-0 as Mayor Pro Tem Alex Saab and Councilman Fernando Vasquez abstained.
Aldo Schindler, director of community development, said the one-half acre lot, on the southwest corner of Third Street and La Reina Avenue, is used as a parking lot with 64 spaces.
Olson plans to combine the city lot with an adjoining property it owns for the development, Schindler said in a report to the council.
He noted that the site is in the Downey downtown area from Firestone Boulevard north to about Fifth Street and between Paramount Boulevard on the west and Brookshire Avenue on the east.
The area contains mostly businesses, offices and restaurants, but residential is part of the plan with two senior citizen apartment complexes there.
“The Downtown Downey Specific Plan seeks to create a lively center of activity for the city, a vibrant urban center providing a wide array of dinning, working, living, shopping, entertainment and cultural opportunities within a short walking district,” Schindler said.
The plan calls for mixed use housing development to provide a wide range of housing developments on city-owned lots, parking lots and vacant parcels sprinkled throughout the downtown area, he added.