Company Press Release
March 17, 2000
GLENDALE, CA -- Whether seeking to reignite pride in its historic roots or hoping to reverse urban sprawl, virtually
every municipality in California is a candidate for a mixed-use redevelopment within its downtown area, according
to a Glendale-based development firm coming off a successful project of this type in nearby Burbank, Calif.
Reinforcing its claim, Gangi Development Co., which recently unveiled a $20 million mixed-use development that
boldly combines affordable senior housing with upscale retail facilities in the heart of downtown Burbank, offers
a checklist of factors that it says qualify self-governing cities for redevelopment.
Prefacing the list, Frank Gangi, president of Gangi Development Co., which has also been granted a development
agreement to create a downtown ``town square'' for the Northern California seaside community of Pacifica, Calif.,
said: ``Most communities in California are relatively young cities, containing enough people to be dynamic.
``Both the younger and older generations are rediscovering cities because they realize it's a more humane way to
live without dependency on the automobile. Redevelopment, therefore, really represents a reversal of urban sprawl
and a sensitivity to ecology.''
With this as backdrop, Gangi's list of qualifications positioning a city for redevelopment includes:
According to Gangi, the best way to bring people back to downtowns is through mixed-use developments.
``These projects not only provide a place to live, but a place to shop without using the automobile. This is the
way cities used to be built. By combining housing and retail, you also create neighborhoods, as opposed to sprawl.
``The benefits to the cities can be far-reaching, since such projects allow them to reinvest in themselves via
property-tax increment provisions,'' Gangi said.
Gangi's theory worked to near-perfection in Burbank, where its 146-unit Silverwinds/Burbank senior apartment complex
was 100 percent precommitted, while the 55,000-square-foot Media Village retail development below was more than
80 percent leased. The project is strategically located in Burbank's downtown ``Burbank Village'' redevelopment
area, which is increasingly attracting major national retail operators.
Established in 1947, Gangi Development Co. is a three-generation family-run enterprise that designs, develops and
manages projects ranging in scope from senior housing and retail developments to custom homes and entire communities.
The full-service, integrated company provides services in land development, subdivisions, architecture, urban planning,
real estate, financing, construction and property management.
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Contact:
Gangi Development Co., Glendale
Frank Gangi, 818/247-2414, ext. 114
or
Ansoorian and Associates, Van Nuys, Calif.
Art Ansoorian, 818/881-1183