Despite complaints from residents that developers of the Park Del Amo residential-commercial project are reneging on a promise, the City Council will allow the developers to replace 192 planned condominiums for the elderly with 110 units that will be placed on the open market.
The Planning Commission, an appointed advisory group, had rejected the change, but the city's planning staff recommended approval of the plans.
The council voted 4 to 2, with Katy Geissert and George Nakano dissenting, to allow the change after developer Ratt Watt of Torrance Investment Co. said his market studies indicated that the time is not right to market housing specifically for the elderly.
"We thought it would be marketable, but the timing, the financing, is not right to build this type of product at this time," he said.
The developers already have under construction 256 condominiums on Maple Avenue and Monterey Street and about 300,000 square feet of office space at Crenshaw and Sepulveda boulevards.