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Singpoli to build a $60 million hotel/condo project in Pasadena

http://www.pasadenastarnews.com/business/20170505/singpoli-to-build-a-60-million-hotelcondo-project-in-pasadena

Singpoli Group will build a $60 million mixed-use project at the corner of Lake Avenue and Union Street in Pasadena that will include a 165-room hotel and a condominium complex with 60 units.

The Arcadia-based investment and development firm bought the 1.6-acre property in January 2016 from Lake/Union Ltd. for just over $11 million. The company expects to begin construction next year.

The site is currently operating as a retail center with three restaurants, including Coco’s Bakery Restaurant, Del Taco and Midori. Other tenants include Magic Cleaners & Laundry Inc., Newport Dental and Polished Act Nails.

All of the tenants are leasing their space on a month-to-month basis.

Magic Cleaners plans to move into a space across the way on Union that had long been occupied by Avanti Italian Bistro & Bar. Avanti recently closed that location, although it still operates another restaurant at 187 Sierra Madre Blvd. in Pasadena.

“We’re renovating the space right now,” said Mike Arakelian, a Magic Cleaners employee.

A manager at Coco’s said he hasn’t yet heard when his restaurant will be closing.

“They don’t let us know things like this until the last moment,” he said.

Los Angeles resident Joann Conte, who works in the area, wasn’t happy to learn that Coco’s is leaving.

“This is a family type restaurant and all of these kinds of places are being closed,” she said. “Where are we supposed to go? It’s not right.”

Singpoli’s new condos will be for-sale units ranging in size from a one-bedroom model with 900 square feet to a three bedroom unit with 1,500 square feet. The hotel — currently envisioned as six stories — will feature a rooftop swimming pool and fitness center.

Singpoli also owns and operates the dusit D2 Hotel Constance Pasadena, located a block away at 928 E. Colorado Blvd. That facility is currently being expanded to include more rooms, a multi-level parking structure, swimming pool, spa and fitness center.

The company additionally owns and manages an 11-story office building at 2 N. Lake Ave., which is across the street from the planned mixed-use development at Lake and Union.