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| The 1990s: Revitalization of Old Pasadena Begins |
| But it was a long struggle to fulfill this rosy prediction, requiring vision, risk and perseverance. Early in 1988, the Pasadena Star News noted that “the transformation of Old Town hasn’t been easy and it hasn’t been fast.” An ambitious effort to develop the block bounded by Colorado, Fair Oaks, Union and DeLacey into a specialty retail center, to be called The Marketplace, was abandoned late in 1988 due to a lack of adequate financing. |
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| The project was soon revived and named One Colorado. In 1990 work on the $70 million enterprise was underway. From its inception in Spring 1993, One Colorado succeeded in attracting a wide interest in Old Pasadena. Following the reinvestment in the One Colorado Development and spurred by favorable tax credits, other developers and property owners followed suit with major improvements to historic buildings throughout the district. An eclectic and exciting mix of tenants were attracted to newly created space, while numerous long-time businesses weathered the transition and have remained part of the authentic experience that Old Pasadena offers. |
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