The Board of Directors has decided to turn the vacant Broadway building site at Colorado Boulevard and Los Robles Avenue into a parking lot to ease downtown congestion and generate revenue until the property is redeveloped.
The Broadway department store moved to the Pasadena Plaza several years ago. The old store was left vacant until it was razed this year to make way for the second phase of the Plaza Las Fuentes development.
Construction on that project, to include retail shops and office space, will not get under way for at least two years, said City Manager Don McIntyre.
He said the city expects to make up to $70,000 a year from the parking lot, which would have about 150 spaces, and from erecting grandstands on the property and selling seats to viewers of the Tournament of Roses Parade.