Developer M+D Properties to break ground on Pasadena project

A rendering of a 46,000 square foot retail/office project in Pasadena. (Courtesy Photo)

PASADENA - M+D Properties is gearing up to begin construction on a three-story retail/office building in Pasadena, a project the company says will create nearly 400 direct and indirect jobs.

A groundbreaking for the mixed-use project, at 61 S. Fair Oaks Ave., is set to take place at 2 p.m. on Wednesday.

It will include about 46,000 square feet of retail and office space and two levels of underground parking space.

"We have some potential tenants, but nothing is confirmed yet," said Boguslaw Megielm, M+D's project manager for the building construction. "We are working with Bloomingdale's, and we have some restaurants as a possibility. We're leaving the interior spaces open for improvements. We're confident that we'll have tenants."

Megielm said the project is expected to be completed by the end of the year so the retailers will be able to take advantage of the holiday shopping season.

"We'll be actively looking for other possibilities in Pasadena," he said.

M+D included an economic report with the project that breaks down the jobs that will be created as a result of the building and its construction.

For the entire development, 397 permanent jobs will be created, according to the study - 218 direct jobs, 63 indirect jobs and 116 induced jobs. This includes the indirect and induced jobs but not the direct jobs from construction, since the development is expected to take less than two years to complete.

M+D

has done other projects throughout Southern California. The Lynwood- based company developed Plaza Mexico, a 450,000- square-foot project in Lynwood that includes retail, food, dining and office space blended together to create a cultural Mecca of shopping, dining and entertainment.

M+D is working on another mixed-use development in Buena Park called The Source.

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Developer M+D Properties to break ground on Pasadena project