A 1.86-acre development site at 444 N Fair Oaks Avenue in Pasadena has been listed for sale. The property, located at the signalized intersection of Fair Oaks Avenue and Villa Street, is offered on a fee-simple basis, but pricing guidance has not been disclosed at this time. Cushman & Wakefield is managing the listing on behalf of an entity associated with the Throop family, noting that the site carries a medium mixed-use general plan designation and is eligible for high-density residential or mixed-use development. Under the State Density Bonus Program, up to approximately 243 residential units may be developed, providing scale for a potential multifamily or mixed-use project.
According to marketing materials, the property’s zoning and location may support entitlement efforts for future development. Brokers underline that existing optional income from cell tower leases could provide interim revenue while entitlements are pursued. The asset is located within central Pasadena, offering walkable access to Old Town Pasadena, the Memorial Park Metro Station, and regional destinations such as the Rose Bowl Stadium. The property is positioned near major transportation connections, including the Metro Gold Line and regional highways, potentially serving residents seeking transit-oriented housing.
According to recent data cited in the flyer, Pasadena has continued to see demand for residential development, supported by steady population growth and constrained housing supply. However, brokers point out that the pace of new project deliveries remains moderate due to entitlement timelines and limited availability of comparable infill parcels. Cushman & Wakefield’s Kevin Nolen, Tim Winslow and Jason Kimmel are overseeing the marketing and sale of the property.
In 2022, SummerHill Apartment Communities submitted plans to redevelop the 444 N. Fair Oaks Avenue site, along with an adjacent parcel at 425 N. Raymond Avenue, into a 206-unit multifamily community. The proposal envisioned replacing the existing George L. Throop Co. lumber yard with two residential buildings: a five-story structure along Fair Oaks with 199 units and a three-story structure along Raymond with seven courtyard units. Designed by KTGY Architects, the project included a mix of unit types, dedicated affordable and workforce housing, subterranean parking, and contemporary architectural elements. While the proposed development reflects the site’s potential for high-density residential use, the property is now being marketed for sale, offering new ownership the opportunity to advance similar or alternative entitlement strategies.
