CONTRACTAPPROVED

Housing Authority of the city of Torrance Awards $29,536 Ground Lease Contract to Mar Development (September 2025)

Housing Authority of the city of Torrance

Disclosed value: $29,536; From contract
Approved: Sep 9, 2025
Term: 30 years

What it covers

Amendment to Ground Lease approved between City of Torrance and Mar Development Corporation extending the lease term to July 17, 2059. City will receive 15% of all base rental revenue from commercial subleases starting July 1, 2027, estimated at $29,536 annually.

Who holds it

Mar Development holds this ground lease contract with Housing Authority of the city of Torrance.

What happens next

Term as filed: 30 years.

See who signed off on this $29.5K contract.

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Contract details

Contract type: Ground Lease
Amount: $29,536
Document date: September 9, 2025
Term: 30 years
Vendor: Mar Development
Agency: Housing Authority of the city of Torrance
Source document: first_amendment_to_ground_lease.pdf (Contract)

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Questions about this contract

Who was awarded the ground lease contract by Housing Authority of the city of Torrance?

Mar Development was awarded this ground lease contract by Housing Authority of the city of Torrance, as recorded on September 9, 2025. The contract value is $29,536.

How much is the Mar Development contract with Housing Authority of the city of Torrance worth?

The Mar Development contract with Housing Authority of the city of Torrance is valued at $29,536, covering ground lease work.

What type of contract is this?

This is a Ground Lease contract, documented as a contract record.

Where was this contract approved?

This contract appears in first_amendment_to_ground_lease.pdf (Contract), dated September 9, 2025 from Housing Authority of the city of Torrance. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does Mar Development hold?

Mar Development may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is Housing Authority of the city of Torrance currently buying?

Explore Housing Authority of the city of Torrance's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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