IRVINE, CA—San Diego-based Garden Communities of California has invested more than $100 million to acquire a 23.77-acre site with plans for a mixed-used redevelopment including 1,600 luxury apartments and 10,000 square feet of retail space.
Ray Eldridge and Michelle Jefcoat of CBRE represented the buyer in arranging the acquisition in three parcels, some of them occupied with existing retail buildings. The property is located near the intersection of Campus Drive and Jamboree Road in Irvine.
The mixed-use project will be known as Elements and will be one of the largest residential projects in the Irvine Tech Center. The community will have a wide array of luxury amenities including a bowling alley, fine dining, a rooftop swimming pool and fitness center. Development of phase I of the site is expected to begin in May 2015 and construction should be completed by late 2017.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
