The Downtown Redevelopment Project Area, located adjacent to the Industrial Redevelopment Project Area, encompasses 88.5 acres and contains the original commercial core of the City which was designed in 1912. This area is also experiencing its own renaissance with the development of the Historic Downtown Redevelopment Project. This $44 million retail/residential mixed-use project is a result of a joint private and public effort by the ANA Real Estate U.S.A., Inc./Gascon Mar Ltd. and the City of Torrance Redevelopment Agency. It occupies three sites in the commercial sector of the Downtown Redevelopment Project Area and features 28,000 square feet of retail area, three residential complexes containing 179 condominium units, and provides 529 parking spaces in surface and subterranean lots. The first phase of the project is completed (known as The Plaza) and already many fine retail establishments such as Aioli Restaurant, Blue Mountain Caffe, Breadstix Bakery and Torrance Optometry have opened their doors for business.
 
In addition, the Agency allocated $200,000 from the Downtown Bond revenues in 1986 to establish the Commercial Rehabilitation Program to help property owners and businesses make needed improvements to the exterior of their buildings. Accordingly, owners receive payment for half the cost of exterior improvements up to $40,000 per property. Due to its success, the Agency has now budgeted an additional $100,000 for each fiscal year for this program. Numerous buildings have been renovated including the El Prado Apartments and the Newberry Building, located at the intersection of El Prado and Sartori Avenues.  However, with recent changes by the State of California, prevailing wage regulations are now in effect and have effectively halted property owners from applying for this program.  Redevelopment staff will continue to monitor current legislation in order to provide outreach to property owners as changes occur. Since the adoption of the redevelopment project area, the total property valuation for the Downtown Redevelopment Project has increased from just over $7 million dollars in 1980 to $66 million dollars in 1992.

Current businesses located in the Downtown Redevelopment Project Area include:

Restaurants: 
Aioli Restaurant & Tapas Bar, The Depot, La Capilla Mexican Restaurant, the Red Car Brewery & Restaurant, Onami Seafood & Sushi Buffet, By Brazil Restaurant, Rudy's, Buffy's Coffee Shop, Yuzu Restaurant and Foster's Old Fashioned Freeze.

Retail:
Torrance Bakery, Torrance Neighborhood Super Market, Washington Mutual, Bank of America, Wells Fargo Bank, Allen & Gary's Jewelers, Bathtub King, Bechamel Bakery, Bubblebath Hand Car Wash, Fox Drugs of Torrance, Fred's Rugs, South Bay Home Health Care.

Services:
Bartlett Senior Citizens Center, Torrance Historical Society Museum, Volunteer Center, RSVP (Retired Senior Volunteer Program), South Bay Gymnastics, Diane Lauridsen's Professional School for the Arts, and Bryman College.
 
Downtown is also known for its many mom and pop shops, along with medical, dental, law, and real estate offices to serve the many residents that live in the Downtown Redevelopment Project Area.

Residential projects include Brisas del Prado, Brisas del Mar, and an affordable housing project known as Brisas del Sol, a senior citizen apartment complex - Coleman Court, and several new residential projects are also emerging.