Shea and Partner Plan 304 Pasadena Apartments

PASADENA, CA-Shea Properties of Aliso Viejo, Calif. and Capital & Counties U.S.A. Inc. of San Francisco expect to break ground early next year on a 304-unit apartment complex and 14,500 sf of retail space on 3.8 acres in this city’s Playhouse District.

The project will be called The Trio Apartments. It will occupy the block bounded by Colorado Boulevard, Madison Avenue, El Molino Avenue and Union Street, an area that includes a Bank of the West building in which Capital & Counties owns an interest.

Shea Properties will act as both the developer for the project and the property manager for the apartments. The architect for the project is Irvine, Calif.-based Thomas P. Cox Architects Inc.

Two retail buildings, part of a retail garage and existing surface parking will be removed to make way for the new improved complex. According to Don Gause, senior vice president of Shea Properties, the remaining portion of the retail garage will be used for the apartment leasing office, recreational facilities and residential units. In addition, an approximately 900-space underground garage will serve both the new development and the existing eight-story Bank of the West office building.

Architectural plans include 21 floor plans for the apartments, which will range from 525 to1,700 sf, some with second-story lofts. In accordance with Pasadena’s requirements, a portion of the apartments will be designated as affordable housing.

Shea Properties is a wholly-owned subsidiary of the J.F. Shea Co. Inc. and a sister company to Shea Homes. Shea Properties owns and operates more than 5,800 apartment units and 3.2 million sf of commercial real estate in California and Colorado. Another 7,000 units and 10 million sf are under development in Northern California, Southern California and Colorado.

Shea Properties is a wholly-owned subsidiary of the J.F. Shea Co. Inc. and a sister company to Shea Homes. Shea Properties owns and operates more than 5,800 apartment units and 3.2 million sf of commercial real estate in California and Colorado. Another 7,000 units and 10 million sf are under development in Northern California, Southern California and Colorado.

Capital & Counties U.S.A., Inc., is a real estate investment and development company that is part of the U.K.-based Liberty International Group. The U.S. subsidiary owns approximately 2 million sf of office and retail space. Its U.S. property holdings are focused in California and include The Pacific Financial Center in Los Angeles and Ghirardelli Square in San Francisco.