A-Town Development On Its Way
Demand for apartments in Orange County remains high, and Lennar Corporation, Aliso Viejo, plans to add to the supply with construction set for the spring of 2014 on a 400-unit apartment complex in Anaheim’s Platinum Triangle. The apartments are in a 41-acre site called A-Town Metro along Katella Avenue in which Lennar has approval for an eventual 2,631 residential units and 150,000 square feet of retail development.
The five-story apartment complex will offer studio, one and two-bedroom units and will include a six-story parking structure for 680 vehicles. Completion of the project, located near Angel Stadium, is projected for the spring of 2016.
In a hotly contested decision, the Lake Forest City Council approved, by a close vote of three-to-two, a change in land use from commercial to residential for 16 acres in the ailing Foothill Auto Center on the Foothill Ranch. The change permits two residential developers to construct a total of 222 new homes on Auto Center Drive just off Bake Parkway at Portola Parkway.
The site was the location of defunct Chevrolet, Buick and Pontiac dealerships and will result in the relocation of an automobile-related business. A recently remodeled Mercedes-Benz dealership will remain in an adjacent part of the Auto Center.
On nine acres of the newly designated residential land, Brookfield Residential, Costa Mesa, there are plans to develop 147 condominiums in 11 two-story buildings with a pricing forecast in the $300,000 to $400,000 range. On the adjacent seven acres, Trumark Homes, Newport Beach will develop 72 detached homes with three plans in the $489,000 to $550,00 price range. Both projects will have clubhouses for residents.
No construction dates have yet been announced.