Bedrock
Development agreement

114 E. Garvey Avenue, Monterey Park, CA

On municipal recordMonterey Park, CA
4/ 5
High impact
Bedrock impact score
Action type
Development agreement
Asset class
Multi-asset · site-wide
Status
On municipal record
Filed
2026-08-19
Jurisdiction
Monterey Park, CA
Days on record
10 days
Aerial view of 114 E. Garvey Avenue, Monterey Park, CA
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01Investment highlights

Why this deal matters

  • Development agreement in Monterey Park, CA
  • Bedrock impact score 4 of 5 — High impact
  • A DA amendment reaching final adoption locks in entitlements and development terms for a 169-unit mixed-use project on Garvey Avenue
  • Signals a entitled, near-shovel-ready site that competing developers or capital partners should track closely.
  • On the municipal record 10 days (filed 2026-08-19)
02Deal summary

The rationale

A DA amendment reaching final adoption locks in entitlements and development terms for a 169-unit mixed-use project on Garvey Avenue — signals a entitled, near-shovel-ready site that competing developers or capital partners should track closely.

Monterey Park City Council is waiving second reading and adopting an ordinance approving Amended Development Agreement No. 2261-AA (DA-26-01) with Rykadan 005, LLC for a seven-story mixed-use project at 114 E. Garvey Avenue comprising 169 residential units and ~16,300 sq ft of commercial/retail space.

03Deal facts

The filing record

Jurisdiction
Monterey Park, CA
Action type
Development agreement
Asset class
Multi-asset · site-wide
Applicant
Rykadan 005, LLC
Status
On municipal record
Filed
2026-08-19
Days on record
10 days
04Location

Where this sits

Satellite view of the parcel — pan, zoom, and switch layers.Esri World Imagery
114 E. Garvey Avenue, Monterey Park, CA
34.06247, -118.12247
Street view

At street level

Street view of 114 E. Garvey Avenue, Monterey Park, CA
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Area demographics

Los Angeles County

10,040,682
Population
$71,358
Median HH income
3,332,504
Households
$1,415
Median rent
U.S. Census · ACS 5-year
Nearby amenities

Within ~1 mile

20 Transit
20 Schools
20 Dining
6 Grocery
12 Banks
6 Parks
Points of interest · Google Places
05Record timeline

Filing to current status

  1. Filed with jurisdiction
    2026-08-19
    10 days on record
  2. Scored by Bedrock
    Relevance 4 / 5
    Automated land-use signal
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