Moving quickly to pick a developer for the Studio Drive-In site after its first choice pulled out of the job last month, the City Council decided this week to enter into exclusive negotiations with D&S Corp. and its partner, Ring Financial.
The vote by the council, acting in its capacity as the city Redevelopment Agency, was 4 to 1, with Mayor Steven Gourley opposed.
D&S lost out to Watt Homes Inc. in a design competition for the city-owned site. But Watt backed out last month after a disagreement with the Redevelopment Agency over building the project in phases.
The D&S proposal calls for 190 units of housing on the 9.5-acre site at Sepulveda and Jefferson boulevards. The complex would include 91 townhouses, 48 condominiums and 51 senior housing units built around courtyards, underground parking and a day-care center. D&S estimated the average cost of the units at $270,000.