In Pasadena’s most densely populated district, a push to add more green space is finally bearing fruit.
On Monday, the city approved spending $3.1 million to buy a bank property on the corner of Union Street and Oak Knoll Avenue with the purpose of turning it into park land.
“This is a great, quick win, for all of us,” Mayor Terry Tornek said.
The future park is estimated to cost another $2 to $3 million to complete, according to a staff report. The design and amenities have not been determined yet.
According to real estate listings, the property is roughly 10,000 square feet. The existing two story building, across the street from Target, is home to Banner Bank and at least one other tenant. Banner Bank’s lease does not end until Oct. 31, but the city is currently negotiating a lease amendment with the hopes of emptying the building sooner.
Pasadena’s central district, which includes the civic center and the Playhouse District, is where the city has focused most of its new multifamily developments, but these neighborhoods have largely been built out without adding any green space. The rapidly growing Playhouse District, expected to gain another 5,000 people within the next five years, is not within walking distance to any of the city’s 23 parks.
The city previously discussed transforming two parking lots in the Playhouse District into green space, but they faced push back from business owners who argued the heavily visited area is already struggling with parking. Still, some residents hope the new park will extend from Oak Knoll to the city-owned parking lot off El Molino Avenue.
“Adding the property that the Banner Bank sits on could create many more opportunities for a good sized park, something usable by so many that are coming to this district because of all it has to offer,” resident Marjorie Lindbeck wrote in an email to the City Council.
“Walkability, fostering healthy lifestyles and creating community are all good goals for a city. I believe that a park in the Playhouse District would enhance the opportunities toward achieving these goals — the very ideas that are the cornerstones of this district,” she wrote.
All of the funding for the purchase comes from fees levied on new development throughout the district and the city. Pasadena has about $8 million of residential impact fees that can only be used in the central district, according to a staff report.
