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Real Estate

June 16, 1989|Michael Flagg, Times staff writer

Newport Pacific Development Corp., Newport Beach, said it received final approval to start a $61-million redevelopment project in downtown Stanton, which includes a new City Hall under a somewhat unusual agreement with the city.

The city will use the profits from sale of the land for the first phase of the project--a $19-million, 335-unit residential community for the aged--to pay for building a new City Hall within two years.

The third phase of the 22-acre project calls for building a retail center. Stanton Mayor Edward L. Allen said the project would help give the city a "new image."

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