JV To Build $110M MXD Project
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MARINA DEL REY, CA-Merlone Geier Partners, in partnership with GLJ Partners, reveals plans for a new $110-million mixed-use housing project in Marina Del Rey. Groundbreaking is planned for September 2010, with completion targeted for spring 2012.
The project is located at 13480 Maxella Ave. on the corner of Maxella and Lincoln Blvd. The two planned modern mid-rises, consisting of 244 luxury apartment homes above 9,000 square feet of retail space and two levels of parking, will be the only residential project of this size in west Los Angeles that is projected to open in the next two years, according to a prepared statement.
In compliance with the Los Angeles’ affordable housing regulations, 24 of the units will be offered at below market rates. And in compliance with Los Angeles’ green building ordinance, the project will be LEED certified by the USGBC “for its incorporation of sustainable materials, healthier interior finishes and energy-efficient construction techniques—an eco-friendly first for Marina Del Rey,” according to a prepared statement.
The project team, including architectural design firm DesignARC and Arroyo Interior Design, is striving for LEED Silver certification. “A new pedestrian-friendly streetscape will include 15 new street trees, supporting Mayor Villaraigosa’s ‘Million Trees Initiative,’” according to a prepared statement. In addition, the project is expected to create between 300 and 400 construction jobs over the next two years, plus 10 permanent jobs, not including retail.
“The chic eco-conscious design of the project, along with a vibrant new streetscape, abundant amenities and retail offerings, will enhance and energize this empty corner, creating an exciting and engaging new entryway to Marina Del Rey,” says Jim Atkins, MGP’s managing partner.
The apartments will be located only a few blocks from the marina, and will be within easy walking distance of two multiplex movie theaters, three grocery stores, the Villa Marina Marketplace with 70 specialty shops and restaurants and Jerry’s Famous Deli. They will average 975 square feet and will feature refined finishes, modern accessories and high-end amenities. Amenities will include a swimming pool/spa retreat with a beach, sun deck and private cabanas; community room with event kitchen; sky lounge with marina views; fitness room and yoga studio; spa services, bicycle repair/cleaning/ storage area; Cyber Café, and a media/screening room.
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