Legacy Partners Residential Inc. JV Acquires 580 Anton Site in Costa Mesa
A 250-Home Luxury Apartment Community to Be Developed
IRVINE, CA – April 23, 2015 – (RealEstateRama) — A joint venture led by Legacy Partners Residential Inc. has completed an acquisition of the 580 Anton Blvd. site adjacent to the prestigious Segerstrom Center for the Arts in the Town Center/South Coast Plaza district of Costa Mesa, Calif., considered by many to be Orange County’s cultural, financial and fashion epicenter.
“This is an exciting time for our company, having secured one of the most prominent sites in this vibrant district,” said Tim O’Brien, Senior Managing Director for Legacy Partners Residential, a major multifamily developer/owner/manager. “With this new neighborhood, we expect to set the bar for luxury apartment residences in Orange County,” O’Brien said.
The two-acre site on the northeast corner of Anton Boulevard and Avenue of the Arts, currently the location of a neighborhood retail center, is entitled for 250 luxury apartment homes. Legacy Partners Residential plans a five-story, podium-design building with more than 200,000 square feet of net rentable area and an incremental amount of neighborhood-serving retail uses. Construction is slated to start in late 2015.
The location is within walking distance of South Coast Plaza, Town Center and South Coast Metro offices, dining and other amenities.
The recent transaction is one of several proposed projects currently in process for Legacy Partners Residential. In addition, the company has a $750 million pipeline of development and renovation projects in the Southern California and Arizona marketplaces.
About Legacy Partners Residential Inc.
Foster City-based Legacy Partners Residential has developed more than 70,000 multifamily units, both for rent and for sale, over the last 47 years. With regional offices in Irvine, as well as in Dallas, Denver and Seattle, Legacy Partners currently owns and/or manages more than 15,000 apartment homes for its own account and for its institutional clients on a fee basis.
For more information, visit www.legacypartners.com/residential or contact Tim O’Brien at
Contact:
Ann Romano
(949) 496-1076
