Lease awarded to 320 Knob Hill
The Redondo Beach Unified School District Board of Education voted to award a ground lease to Fountain Square Development West to build an assisted senior living community on the district’s South Redondo 320 Knob Hill property.
The deal, if it passes the city’s zoning process, would bring in $614,250 annually to the district. The proposed development would be called The Kensington of Redondo Beach and include 92 assisted living suites and house 130 residents in a single, two-story 74,000 sq. ft. Spanish Colonial designed building.
“If all goes well and this does get approved (by the City Council) it’s more than $600,000 a year,” said Board Member Todd Loewenstein. “That’s anywhere between 10 to 12 teachers that we need desperately.”
Kelly Martin, a member of the Knob Hill Community Group, expressed concern that even after the life of the 60-year lease the district would be locked into the new zoning and not have the ability to build a school at that site in the future.
“It’s our property and if we want to make it a school, we can make it a school,” said board member Laura Emdee. “Once the lease is over, we can turn it into a school.”
Board member Jane Diehl, who is a professional physical therapist, said that she was confident that Fountain Square would build a beautiful building and, because of their track record, would run it well.
“I also believe it will provide a service to the community,” said Diehl. “They have been listening to people and would like to be a good neighbor, and I think that they have the ability to buffer and put in green space that will help to make it attractive to the community.”
The process is expected to take two to three more years. ER