COSTA MESA, CA-Rutter Development of Irvine has kicked off construction on its new Pacifica multifamily project, which will bring 145 townhouses and flats to Downtown Costa Mesa with a redevelopment in the 19th Street Corridor. The project, at 1901 Newport Blvd., will convert a four-acre former parking lot site into a for-sale development of units measuring 1,300 sf to 1,800 sf.
The 145 units will include two-bedroom units in two-story townhouses and one-story flats, built in four phases. The units are expected to sell for $500,000 and up, with the first of them expected to be available in the fall of 2007.
Jay Rutter, president of Rutter Development, comments that the project, part of the City of Costa Mesa Downtown Redevelopment Zone, will be pivotal to the city's ongoing urban renaissance. In the Downtown area and 19th Street Corridor, he adds, the project will set the tone for future residential development in the area.
Pacifica's designers include Johannes Van Tilburg of Sana Monica-based VTBS Architects, civil engineer Doug Snyder of Irvine-based Hunsaker & Associates and landscape architect Roger Presburger of Woodland Hills-based L.A. Group, Inc. According to Rutter, the project is being designed with an eye toward the Spanish/Mediterranean influences in the city and the "lush foliage that Southern California is known for."
The demand for both for-sale and for-rent multifamily units remains strong in Orange County, according to recent market reports. A lack of new housing construction, combined with strong job creation, continues to result in a shortage of affordable housing in the county.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.