Calexico plans to buy Towncenter Plaza for pennies on the dollar

Calexico Economic Commissioner Ben Horton said a local developer has invested time, money and energy in getting ready to buy the tax-defaulted Towncenter Plaza properties on the northwest part of town.

“Chiu was working to move things forward with the help of the economic commission to work between the city and the I.I.D.,” Horton said.

The developer was waiting only for an electric power review at the area. But Horton said Calexico City stepped in pushing the developer aside and plans to buy the land for pennies on the dollar.

“The city is saying that they want to purchase the property. They have not communicated that message to Mr. Chiu. He went in good faith with the city to do what was required to get the review of the property which is the power boxes,” Horton said.

City Manager Armando Villa said he’s unaware of the developer’s work on the property, but this purchase fits into the overall city economic strategy.

“We start with economic development activity. And ultimately all those things are going to yield to higher property value, property taxes, job creation and more money coming back to the city,” Villa said.

Calexico Mayor Armando Real said they plan to act when the property goes on public auction in February.

“The City of Calexico has the first right of refusal on it. And because we do need some property to do this, we’re purchasing that property or trying to purchase it,” Real said.

He said thousands of jobs could be created if the purchase goes through. He added that the city is in dire need now of some good news.

“In a nutshell it’s a great opportunity,” Real said.

We reached out for comments from developer Daniel Chiu but he was not available.