ORANGE, CA—The Picerne Group, incollaboration with Rockwood Capital andThe Muller Company, has formed a joint venture ona 2.76-acre site to build ELEVEN10 West, a260-unit multifamily rental community one block fromChildren's Hospital of Orange County andSt. Joseph Hospital. The project is expected to becompleted, and open for lease in summer 2017.

|

“The demand driver behind this well located community in CentralOrange County is jobs, jobs, jobs,” said The Picerne Group managingdirector, Brad Perozzi. “Three of the top tenhospitals in Orange County are located in close proximity to theproject.”

|

A five-story podium building at 1110 Town and CountryRoad just off Main Street is being designed by TCAArchitects. It will include 43 studios, 117 one-bedroomand 100 two-bedroom apartments for a total of 224,293 rentablesquare feet. With a contemporary architectural style consistentwith the objectives of an urban mixed-use zone, the community willimprove the area by using a variety of high quality materialsincluding wood siding, metal awnings and burnished block. Themassing and articulation holds the street edge while complementingthe scale of the surrounding uses.

|

The ELEVEN10 West community will include more than 500 parkingspaces, three interior courtyards with a massive primary poolcourtyard consisting of more than 13,000 square feet includingpool, spa, cabanas and lounging areas; an outdoor entertainingspace with gaming; a state-of-the-art indoor/outdoor fitnesscenter; and a catering-style kitchen. WiFi will be available in allcommon areas, ready for every opportunity to work or play.

|

ELEVEN10 West is being designed to coincide with theCity of Orange's general plan's mixed-use visioncreated in 2010. The Picerne Group is helping transform anunderutilized commercial site into a pedestrian friendly horizontalmixed-use development with quality housing close to employment. Thecommunity is adjacent to a 16-story class A office buildingconstructed in the late 1980s as part of the first phase ofdevelopment.

|

“We cannot begin to thank the City of Orange enough for placingits faith in our firm to execute this vision. We are honored to bedoing business in the City of Orange,” Perozzi said.

|

The community is near the Westfield MainPlaceMall and Orange Town and CountryShopping Center. Visibility and access are excellent fromthe nearby I-5, 22, 57 and 55 freeways.

|

The Picerne Group (TPG) is aprivately held, Southern California-based real estate investmentfirm that focuses on real estate investments nationwide, as well asbest-in-class asset management.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
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.

David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.