Nexus Plans $72M Mixed-Use Development

ANAHEIM, CA-CREA/Nexus Anaheim Corners LLC, an affiliate of the residential division of Nexus Properties Inc. of San Diego, plans to develop a $72-million, mixed-use project. It will include a 390-unit apartment complex and 11,000 sf of ground-floor retail space on a six-acre parcel at the northwest corner of State College Boulevard and Katella Avenue, according to Eric Heffner, a principal with the organization. The project was previously reported erroneously as a development of Intracorp, from whom Nexus purchased the property. Heffner tells GlobeSt.com that Nexus will raze existing structures at the site, including El Torito and Charlie Brown’s restaurants. Heffner says Nexus expects to break ground in the middle of the third quarter. The new development will be called Stadium Lofts and will be the first of several mixed-use developments in the Platinum Triangle neighborhood surrounding Edison Field that will break ground this summer. Heffner tells GlobeSt.com that Nexus was attracted to the development site by the “untapped potential” of the Platinum Triangle location. The company is a mixed-use developer that is also in the pre-development stage on more than 750 apartment units in the Irvine Business Complex. The 800-acre Platinum Triangle area is being master-planned by the City of Anaheim for a community of housing, eateries and retail stores. The Triangle area is already home to a MetroLink Station and the Grove Theatre, and Anaheim is planning on mixed-use projects with densities ranging from 45 dwelling units per acre to nearly 100 dwelling units per acre.