Tuna Pizza Developer: Condos Are Poison in this Market

It's a poison tuna pizza, people. Earlier this fall, developer Randy Wang, behind the now-stalled Tuna Pizza project in Temple City, accused city officials of bribery, while also being sued himself by the city for being in danger of defaulting on the project. Now comes word via the San Gabriel Valley Tribune's Alfred Lee that Wang is attempting to go forward with the project, albeit without condos. "Wang said he was still able to get financial backing for the mixed-use development - as long as the residential condominiums portion was scrapped. He said he is willing to convert those units to office condos, hotel beds or more retail space. 'The condos are like a poison,' said Wang, who added that banks are scared off by the declining housing market." According to a spokesperson for Wang, at least 19 retailers are interested, including a Fresh & Easy. The city says it's now willing to work with Wang going forward, although Mayor Cath Wilson is stating she will only support an "all-retail center." Either way, it looks like we need to get a new rendering of the project.
· Piazza developer ready to continue with project [SGVT]
· Scandal! Tuna Pizza Developer Claims Bribery [Curbed LA]For more stories from Curbed LA, go to la.curbed.com.