Ontario sells land for ‘urban village’
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The city of Ontario agreed to sell 94 acres of land west of the Ontario Mills mall for construction of a large “urban village” possibly anchored by a luxury hotel and sports arena.
The council agreed to sell the property in the Ontario Center for about $26 million to Sacramento-based Panattoni Development Co. The urban village would include a potential luxury hotel, about 800 condominiums, 480,000 square feet of office space and 465,000 square feet of retail and commercial space.
The project is expected to generate about $4.3 million annually in tax revenue.
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