IE Business Daily Business news for the Inland Empire.
A leading developer of industrial properties will be allowed to build a 1.5 million-square-foot warehouse-distribution facility in Moreno Valley.
Prologis Inc. will develop the project on 122 acres south of the 60 Freeway, between Redlands Boulevard and Moreno Beach Drive, according to a report The Press-Enterprise.
Following a five-hour debate, the city council voted 3-2 early Wednesday in favor of the project, despite numerous protests from some residents concerned about pollution and extra truck traffic.
Council members also agreed to rezone the property on the city’s east side from residential-business park to industrial.
Prologis originally proposed six industrial buildings that would cover 2.2 million square feet, but it reduced the project after residents and several council members expressed concerns about its size.
A buffer zone will be established between the project and existing homes, but 38 acres of open space at the southeast end of the property will remain zoned for residential use.
San Francisco-based Prologis bought the property in 2007 but postponed its development plans when the economy slowed, the report stated.
Prologis is a global leader in developing and managing industrial real estate, with nearly 600 million square feet of properties in 21 countries in its portfolio, according to the company’s website.
