PASADENA, CA—A joint venture between Mack Urban, Mill Creek Development Co. and Cigna Investment Management, the equity partner, have broken ground on a mixed-use development in the playhouse district of Pasadena, CA. The development will cost the joint venture $50 million.
The development sits on 1.19 acres, which were previously owned by Mill Creek Development Co. RTKL Associates designed the project in a Spanish Revival style with two two- to six- story buildings, 118 total units and 7,600 square feet of retail space. The project also includes two levels of subterranean parking with 220 spaces. The property will feature landscaped courtyards, terraces, BBQs and outdoor fireplaces.
Located in the Pasadena playhouse district, the Spanish-style architecture was inspired by the surrounding market. Once complete, the tallest building will offer views of the mountains as well as the annual Rose Bowl and New Year’s Day parades. Mack Urban was unable to comment on this development prior to publication.
Mack Urban is an integral part of development in the Los Angeles area. The company has also partnered with AECOM to build a mixed-use multifamily complex on six acres in downtown Los Angeles. Mack Urban and AECOM purchased the land site last year for $80 million and recently released the site plans, which include multifamily and hotel space as well as retail. Similarly, the site will also consist of two buildings.