Local officials called a planned 20,000-square-foot retail development in Sylmar an economic boost for the community at the future center’s groundbreaking celebration today. Ralph Torres, Albert Gonzalez and local officials together pushed shovels into the dirt plot of land where the future Hubbard Village Center will be located on Hubbard Street near Glenoaks Boulevard. Local officials speaking at the event included Councilman Richard Alarcòn, Valley Economic Development Center President Roberto Barragan and Anne Williams, who serves as executive vice president, chief operating officer and chief credit officer of California United Bank. “This, I think, will become a center for Sylmar, and Lord knows Sylmar needs that,” Alarcón said. “There are far too few services and accompaniments to this community that other communities take for granted.” Alarcòn said the project will also be valuable in creating jobs. Two contracting companies have already started working at grating and clearing the property. The project is expected to create about 150 constructions jobs, as well as an undetermined number of permanent jobs after construction is completed. Torres and Gonzalez’s 17-year old restaurant Casa Torres, which is currently located in the area, will serve as the anchor business for the center. The developers are also in talks with a sushi restaurant and an insurance firm for inclusion in the center, leaving 8,000 square feet available for retail development and 6,000 square feet for office space. The center is believed to be the community’s first major commercial center to open in 40 years. The project, which has been stalled for several years due to a lack of financing and zoning issues, was made possible by $2.6 million in financing by California United Bank. The Valley Economic Development Center helped secure the funding. “Nowadays you don’t see a lot of retail centers being built, whether it is in Sylmar, whether it is Encino, or whether it is in Hollywood,” Barragan said, adding that California United Bank was willing to step in and support the project. Williams said California United Bank is active and out to lend, unlike other banks that have slowed down their lending activity due to the economic downturn. “We would like to support the community,” Williams said. “We are all about jobs right now because in this community and all over Los Angeles, we need jobs and this is a perfect vehicle for it.” The project was approved in 2007. Torres and Gonzalez are also the developers and owners of two banquet halls, Casa Torres Banquets in San Fernando and Palacio Torres in San Fernando. They have also built homes in the Northeast San Fernando Valley. “We’re local business people,” Gonzalez said after the event. “We believe in the community. … We want to (bring) good quality tenants and do a nice building and let people know that the San Fernando Valley and Sylmar, we believe in it.” The owners said the new restaurant will be about the same size as its previous location.
