Escondido Project Gets $20M Financing

ESCONDIDO, CA-A financing package of about $20 million has been secured for a downtown mixed-use project called Gateway Center.

MM&S Investments Corp. will provide $15.4 million while La Jolla-based developer C.W. Clark Inc. contributes $4.4 million. The formal groundbreaking is set for April 29 on 115,000 sf of retail and office space in Gateway Center.

The center is located at the northwest corner of Tulip Street and West Valley Parkway. Clark said the center already has signed leases for more than 64% of that space, including one of the largest Barnes & Noble stores in the region at 25,000 sf, and Michael¹s Arts & Crafts, 23,500 sf.