From: Southern California CEO Business Magazine | January 03, 2011  | 12 views

Mercado Apartment Project Breaks Ground

Perris City officials broke ground Tuesday on a $14-million, 60-unit affordable housing complex that will transform the southern end of D Street, bring more people and more commerce Downtown and move forward the renaissance of the main route through the heart of the historic residential and retail district.

“This is an important day for us,” City Manager Richard Belmudez told the crowd of about 75 elected representatives and other dignitaries who gathered at the construction site near D and Eighth streets.

“This project completes a major piece of our Downtown puzzle. We are taking a dirt lot and transforming it into a very impressive development. This area of D Street had gotten a little tired but once all the work is completed, it will be the heart and soul of Downtown. This is an important part of our economy and an important part of our investment in the future,” he said.

Construction on the Mercado Apartments is expected to begin in late November and should be completed in 12 to 14 months. The first phase includes a three-story complex for income-qualified applicants. Phase II includes a retail center as well as more residential units and a four-acre park.

City officials emphasized their partnership with a private developer, the Agoura Hills-based AMCAL Multi-Housing and Las Palmas Foundation, which helped provide funding for the Mercado Apartments.

Percival Vaz, the company CEO, extolled the efforts of City staff and the City Council for working to move the project forward.