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$34M Project Adds 255 Luxury Apartments

EL CENTRO, CA-Touchstone Communities acquires 21 acres in El Centro to develop the complex, which will be within walking distance of Imperial Valley Mall.

By Amanda Paxson | Updated on May 10, 2005

EL CENTRO, CA-San Diego-based developer Touchstone Communities has purchased 21 acres in this Imperial Valley community, with plans to build a 255-unit luxury apartment development valued at approximately $34 million. The land is located adjacent to the newly built Imperial Valley Mall and was purchased from CBL & Associates Properties and the MG Herring Group.

“The Imperial Valley is a booming area,” Kerry Garza, president of Touchstone Communities, tells GlobeSt.com. “All the developers are going there. It is ideal for rental properties.”

Construction is scheduled to begin later this year on the apartment project, which will be named Almeria and will be located east of Imperial Valley Mall, with a pedestrian crosswalk connecting the two structures. The two-story complex will consist of one-, two- and three-bedroom floor plans. Amenities for the development include event facilities, an exercise room, a technology center, a swimming pool and tennis courts. Completion is estimated for mid 2007.

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