Glendora Large Scale TOD Opportunity

The area surrounding this large scale TOD opportunity is characterized by its appealing blend of residential charm and commercial vitality, making it an attractive location for businesses. The location is advantageous due to its proximity (adjacency) to the new Metro Gold Line station, which is expected to enhance connectivity and increase foot traffic, a significant benefit for any business. Additionally, the presence of established businesses in the vicinity indicates a supportive environment for commerce and industry. The area's accessibility is further supported by major thoroughfares, facilitating easy travel for both customers and employees.
This Glendora large scale TOD Opportunity is made up of three separate parcels for the following addresses: 434 (476) South Vermont Ave, 500 S Vermont Ave, and 517 South Glendora Ave, Glendora CA. Currently, 434 (476) South Vermont Ave and 500 South Vermont Ave each have an automotive repair shop tenant on a month to month lease. 517 S Glendora Ave is vacant but has a cell tower lease with a termination date of December 2026.
This TOD Opportunity was subject to the Surplus Land Act (SLA), which imposes an Affordability Covenant Restriction on the property. Under this covenant, if ten (10) or more residential units are developed on the Property, no less than 15% of the total number of residential units must be sold or rented at affordable housing cost, as defined in relevant sections of the California Health and Safety Code, to lower income households. The rental units are required to remain affordable and occupied by lower income households for 55 years for rental housing and 45 years for ownership housing.
For more information or questions, please reach out to Rodrigo Gonzalez via email rgv@deodatecorp.com or contact phone number 626-219-6486.