Ushering in a new era of development in Santa Ana, officials broke ground Wednesday on a luxury apartment community that developers believe will set the standard in high-end living in the red-hot rental market in Orange County.
“Our goal is to build the highest quality rental community in Santa Ana if not all of Southern California,” said Frank T. Suryan, Jr., chairman and CEO of Lyon Communities, developers of The Marke @ South Coast Metro.
Construction on the 300-unit, amenity-laden community will begin immediately in south Santa Ana on the corner of MacArthur Boulevard and Main Street with initial occupancy in late 2013. Adjacent to Hutton Centre, a mix of high-rise office and residential, the Lyon project has long been anticipated to complete what Santa Ana Mayor Miguel Pulido called the “southern gateway” to the county seat.
“The quality of this project and the lifestyle it will offer is what we are aspiring to bring to our great city,” said Pulido before joining other councilmember’s and Lyon officials in the ceremonial groundbreaking. “This will be a signature project that will set the standard in this city.”
Targeting a younger professional demographic, The Marke will feature 300 apartments ranging from one to three bedrooms and 720 to 1,470 square feet. The homes will include modern, open floor plans with nine-foot ceilings, stainless steel appliances, Quartz countertops and European style cabinetry. On the rooftop of the five-story complex will be almost an acre of amenities including a resort-style pool and spa, private cabanas, an outdoor sports bar and expansive 7,600 square foot clubhouse with exercise facility and two lanes for bowling. There will also be 1,500 square feet of retail and food amenities for residents.
Newport Beach-based Lyon Communities has built or acquired more than 40,000 apartments throughout the West. The Marke is the company’s first project in several years in Orange County, and Suryan believes the architecture and amenities will set it apart from competitors.
“Some builders are very active in this market but their units all look the same,” he said. “We wanted to build something unique and I know we will deliver on that pledge.”
When Lyon first approached city officials about the project, they met resistance from planners and councilmembers who wanted to build more “for sale” projects, not rentals. But the two sides ultimately compromised, largely, Pulido says, because this project represents something different.
“This is the new Santa Ana and we are excited,” the mayor told the midday gathering. “It’s a win for the city.”
For more information visit Lyon Communities.
Irvine Co. opens first new apartment communities in O.C. since recession
Jamboree Housing, Irvine Community Land Trust celebrate opening of Doria Apartment Homes
Garden Grove apartment complex sells for $53 million