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A groundbreaking event for a nearly 500,000-square-foot, mixed-use project in Buena Park was held Thursday morning, marking the start of construction on what city officials hope to be a key attraction within its Entertainment Zone.

The Source, a project expected to total 480,995 square feet, is slated to be built at the intersection of Orangethorpe Avenue and Beach Boulevard. The project is expected to hold retail and office space, along with a four star hotel and an entertainment center for concerts, performances, conferences and other events.

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The project is located about a mile from Knott’s Berry Farm.

Once built, The Source will join a number of tourist attractions on or around Beach Boulevard in what the city has dubbed its Entertainment Zone, which includes dinner shows Medieval Times and Pirates Dinner Theatre along with the Buena Park Downtown mall.

City officials hope the project will help drive 11 million visitors annually to the zone. The area currently sees about 6.4 million visitors each year.

The Source is being developed by Lynwood-based M+D Properties, which developed the 450,000-square-foot Plaza Mexico shopping center, also in Lynwood.

The project is slated for completion in fall 2014.