Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MONROVIA, CA-Urban Housing Group of El Segundo, CA has started construction of a new 163-unit apartment and retail project called the Courtyards at Old Town in Old Town Monrovia. The El Segundo-based firm, which is a privately held company specializing in the development of multifamily and mixed-use projects, plans 6,000 sf of retail space at the Courtyards, which was designed by the architecture firm KTGY.

According to Dan Deibel, vice president of development for Urban Housing, the new project will bring access to neighborhood-serving retail space, transportation and employment centers to the infill location. The four-story buildings of the Courtyards will house apartments of one and two bedrooms along with the ground floor retail and commercial space. The complex, financed by HSBC Realty Credit Corp., is scheduled to be completed April 2010.

Common area amenities at the Courtyards will include a pool and a spa, a fitness center, a clubhouse and seven landscaped courtyards. The apartments will be luxury units with interior finishes including granite countertops, maple cabinets, broadband wiring, in-unit laundry and nine-foot ceilings.

Urban Housing has already begun construction on the parking structure for the project and has slated the official groundbreaking for the development on Tuesday. Larry Scott, recently named managing director of Urban Housing Group, points out that the project builds upon Urban Housing’s more than 50 years of multifamily development experience through its parent company, Marcus & Millichap Co.

Urban Housing recently hired Scott, who formerly was with AvalonBay, to the newly created position of managing director as the El Segundo-based firm expands in Southern California. The company said that it is expanding its focus on development of luxury rental communities in supply-constrained submarkets and that Scott will lead the expansion through the procurement of strategically located development sites.

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

Once you are an ALM digital member, you’ll receive:

  • 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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.