The project site is at 621 E. Colorado Blvd., with the property comprising an entire city block on 3.8-acres. It is bordered by East Colorado Boulevard, North Madison Avenue, Union Street and El Molino Avenue. Trio is being co-developed by Shea and Capital and Counties U.S.A. Inc. of San Francisco. According to Bill Gaboury, president of Aliso Viejo-based Shea Properties, the design of the new development will "mirror the character of the surrounding community" with urban, contemporary and traditional Spanish architectural styles.

Gaboury says the development is scheduled for completion during the third quarter of 2005, with a limited number of apartments slated for occupancy late in the second quarter of that year. The Shea Properties president points out that the new construction that began recently is actually the second phase of activity at the site, which initially involved razing of some existing structures to make way for the new. The project includes the revitalizing of two historic structures, the eight-story First Trust Bank building, which will remain dedicated a multi-tenant office property, and the raised parking garage structure that was designated as a historic landmark in 1994 for its contributions to the Playhouse District. The parking structure will gain new life as Trio's leasing office and community center.

Shea is a commercial real estate investment and development firm as is its partner in the project, Capital & Counties USA. Shea is committing capital investment, entitlement, development oversight, leasing and management of the project, with Capital & Counties USA Inc. providing land rights and capital investment for the project.

The development is being designed by Thomas P. Cox Architects of Irvine, with Fuscoe Engineering, also of Irvine, as the project's civil engineering firm. San Diego-based Wermers Multifamily Corp. is the contactor in charge of Trio's construction.