MONTEREY PARK — Overriding a recommendation from the Planning Commission, the City Council by a 4-1 vote has authorized construction of six restaurants, a bank and numerous stores in a $30-million project at the northwest corner of Atlantic Boulevard and Garvey Avenue.
Tindo Valley Associates of Alhambra plans to demolish a gas station and taco stand on the two-acre site and construct a four-level building, including a subterranean parking garage. Representatives of the developer said the building will become the headquarters of Omni Bank. Although no leases have been signed, the project's leasing agent has drawn up a list of potential tenants that include specialty stores and such well-known restaurant chains as Flakey Jake's and Velvet Turtle.
The council approved the project despite complaints from residents in an adjoining area of Alhambra that it would attract too many cars and people, increasing the severe traffic congestion at Garvey and Atlantic, and would intrude on the privacy of homes by creating noise and glare.
Douglas Ring, attorney for Tindo Valley Associates, said it is a high-quality development that would be the envy of most cities. He said it would increase sales tax revenue for Monterey Park and noted that the city is facing strong business competition from a new regional mall in Montebello and a vigorous redevelopment program in Alhambra.