A lot in Manhattan Beach that’s been empty for nearly 13 years will soon be filled.
Construction on a new Kinecta Federal Credit Union branch, along with three to-be-leased retail spaces, is underwSay on the corner of Sepulveda and Manhattan Beach boulevards. The project broke ground late last month and will likely be completed by the end of the summer.
Kinecta, which has called Manhattan Beach home for 40 years, leased the site from Rite Aid early last year.
“We’ve been a part of the Manhattan Beach community for quite a while,” said Kinecta’s Chief Operating Officer Donna McNeely. “So when we had the opportunity to open a flagship location, we thought, ‘Let’s do it there.’”
The site comprises two lots. The northern side, 1120 N. Sepulveda Blvd., is owned by the Nayebdadash Family Trust, and the southern portion, 1100 N. Sepulveda Blvd., is owned by the Sackley Family Trust, according to a staff report.
Rite Aid is in a multi-decade lease with the respective owners, and the City Council in 2008 gave the pharmacy company the green light to develop a location there, according to assistant city planner Ted Faturos, but it never built anything.
The company stopped expanding nationally that year due to the economic downturn; Rite Aid at the time withdrew its construction plans, then looked to resubmit plans in 2015 but ultimately did not.
“For eight years I’ve been driving by this big, green, ugly eyesore, and nobody’s stepping up to develop this thing,” said Keith Sultemeier, Kinecta’s CEO, who has lived in Manhattan Beach for those same eight years. “One of the reasons why (the site stayed vacant so long) is because it’s hard to make it make sense economically.
“But (Kinecta’s) been here for decades,” Sultemeier added, “and we wanted to be part of the solution if we could.”
In addition to the credit union branch, the site will have a restaurant, a coffee shop and a self-improvement service, like a yoga studio. The project will also include surface-level parking and an underground parking structure.