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ANAHEIM, CA-Intracorp of Newport Beach plans to develop a 386-unit apartment complex and ground-floor retail on a newly acquired, four-acre parcel at the northwest corner of State College Boulevard and Katella Avenue, according to O’Donnell/Atkins. Dustin Schmidt, Scott Richardson, and Erik Mykletun of land brokerage firm O’Donnell/Atkins represented Intracorp in the purchase of the property from De Young Construction, also of Newport Beach. The new development will be called Stadium Lofts. It will be the first of several mixed-use developments in the Platinum Triangle neighborhood surrounding Edison Field that will break ground this summer, according to the O’Donnell/Atkins team. The 800-acre Platinum Triangle area is being master-planned by the City of Anaheim for a community of housing, eateries and retail stores. The Triangle area is already home to a MetroLink Station and the Grove Theatre, and Anaheim is planning on mixed-use projects with densities ranging from 45 dwelling units per acre to nearly 100 dwelling units per acre.Anaheim is one of a number of cities supporting such high-density developments in hopes that clustering an area’s retail and shopping options along with residences, offices and other attractions will cut down on commute times, create more of a sense of community, and bring life back into the cities. Richardson points out that the Stadium Lofts project is an example of a trend among more and more developers to move into urban arena where they can find blighted or under-utilized parcels that are ripe for redevelopment. Lack of available land on the periphery of development in Southern California is one of the chief factors creating the trend, Richardson observes. The trend is also evident in a number of other Southern California cities, including Downtown Los Angeles, where O’Donnell/Atkins recently opened a new division to focus on high-density mixed-use projects.

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