The Redevelopment Agency has agreed to sell a 27,600-square-foot parcel at Foothill Boulevard and Ivy Avenue to Bowden Development for a 70-unit apartment building for senior citizens.
Bowden will pay $303,600 for the land and has agreed to subsidize 14 of the units for low-income senior citizens for 15 years. Rents for the first year will be $410 a month.
The apartments, to be completed in a year, will be available to people age 55 and older, with priority given to Monrovia residents. Donald Hopper, manager of the Community Development Department, said the project is close to shopping areas and transportation.