July 19, 2024 Breaking News, Latest News, and Videos

Former Vons Set for Santa Monica Redevelopment as Developer Secures $385 Million in Construction Financing

Construction is set to break ground next month 

Developer Related California announced recently that it has secured $385 million in construction financing from Bank of America for its next major mixed-use development in Santa Monica at the site of a former Vons supermarket.  

“For more than 30 years, Related California has been transforming neighborhoods across the West Coast,” said Related California president Gino Canori in a news release. “We are excited to undertake this monumental development in Santa Monica, which is further proof of the power of public-private partnerships delivering much needed mixed-income housing in Los Angeles County.”

Located in Santa Monica’s Downtown near the intersection of Lincoln Boulevard and Broadway, 710 Broadway plans to include apartments, a 30,000-square-foot private park, 35,000 square feet of retail space and a 55,000-square-foot Vons supermarket, all designed by Large Architecture.

Construction is set to break ground next month and finish in the fourth quarter of 2025. The project will also be partnering with the Community Corporation of Santa Monica to offer affordable housing options across a range of income levels.

This development will mark an exciting chapter for both Related California and Santa Monica itself as the city takes another step towards becoming a vibrant market destination with attractive living accommodations and amenities.

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