DOWNEY, CA-A joint venture of Manarino Realty LLC and Industrial Realty Group are moving forward on a $170 million plan for a mixed-use redevelopment of the former NASA Apollo command and space shuttle factory property here. The 77-acre project has been dubbed Tierra Luna Marketplace.

The project will total 1.5 million square feet, and will include two big-box stores, a 14-screen movie theater, a 225-room hotel, restaurants and dozens of other retailers, as well as a 42,000-square-foot sports club. Also included will be up to 500,000 square feet of office, most of it for medical use, and a fire station.

“We have an opportunity to bring something truly significant to the city,” said Bob Manarino, president of the self-named firm, in a statement. “Our site benefits from its location near a sports park, the Columbia Memorial Space Center, and Kaiser Permanente Hospital. We’re going to tie all of those uses together by creating a central place for this community to be entertained, to shop and to come together.”

It’s possible that construction could start this year on the site, according to the statement. There has not yet been any tenants announced for the project, which was approved by the City Council in January. There have been a number of false starts to the site, including a possible Tesla plant, but these plans fizzled out.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.