According to Dan Deibel, vice president of development for UrbanHousing, the new project will bring access to neighborhood-servingretail space, transportation and employment centers to the infilllocation. The four-story buildings of the Courtyards will houseapartments of one and two bedrooms along with the ground floorretail and commercial space. The complex, financed by HSBC RealtyCredit Corp., is scheduled to be completed April 2010.

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Common area amenities at the Courtyards will include a pool anda spa, a fitness center, a clubhouse and seven landscapedcourtyards. The apartments will be luxury units with interiorfinishes including granite countertops, maple cabinets, broadbandwiring, in-unit laundry and nine-foot ceilings.

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Urban Housing has already begun construction on the parkingstructure for the project and has slated the officialgroundbreaking for the development on Tuesday. Larry Scott,recently named managing director of Urban Housing Group, points outthat the project builds upon Urban Housing's more than 50 years ofmultifamily development experience through its parent company,Marcus & Millichap Co.

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Urban Housing recently hired Scott, who formerly was withAvalonBay, to the newly created position of managing director asthe El Segundo-based firm expands in Southern California. Thecompany said that it is expanding its focus on development ofluxury rental communities in supply-constrained submarkets and thatScott will lead the expansion through the procurement ofstrategically located development sites.

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