PASADENA, CA—A joint venture between MackUrban, Mill Creek Development Co. andCigna Investment Management, the equity partner,have broken ground on a mixed-use development inthe playhouse district of Pasadena, CA. The development will costthe joint venture $50 million.

The development sits on 1.19 acres, which were previously ownedby Mill Creek Development Co. RTKL Associatesdesigned the project in a Spanish Revival style with two two- tosix- story buildings, 118 total units and 7,600 square feet ofretail space. The project also includes two levels of subterraneanparking with 220 spaces. The property will feature landscapedcourtyards, terraces, BBQs and outdoor fireplaces.

Located in the Pasadena playhouse district, the Spanish-stylearchitecture was inspired by the surrounding market. Once complete,the tallest building will offer views of the mountains as well asthe annual Rose Bowl and New Year's Day parades.Mack Urban was unable to comment on this development prior topublication.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.