"We are honored to receive this recognition from the Urban Land Institute. The Colony is indicative of our firm's sensitivity to human scale, attention to detail and space utilization and desire to design unique environments where people aspire to live and work," says Richard Emsiek, AIA, principal of McLarand Vasquez Emsiek & Partners, the architectural planning and interior design firm that designed The Colony for IAC.

Completed in 1998, The Colony consists of four multifamily buildings overlooking the Newport Harbor with views of the Pacific Ocean and Upper Newport Bay. Each of the buildings has a themed courtyard. Additionally, the community integrates high-density housing in an area traditionally zoned for commercial and retails uses.

In selecting from among the 101 entries received this year, the ULI looked at such criteria as financial viability, resourceful use of land, design, relevance to contemporary issues, and sensitivity to the community and the environment. Started in 1979, the ULI Awards for Excellence program reflects the ULI's mission of providing responsible leadership in land use that enhances the environment.