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Mariner's Bay Set for $65M Reno

LOS ANGELES—Legacy Partners begins a massive 30-month renovation project on the 379-unit apartment complex, which it bought in May 2015.

By Kelsi Maree Borland | kelsimareeborland | | Updated on February 03, 2016
The property has ocean views from 70% of the units. The property has ocean views from 70% of the units.
LOS ANGELES— Legacy Partners have begun a $65 million renovation of the Mariner’s Bay , a 379-unit apartment community in Marina del Rey. Legacy purchased the property in May 2015 in a joint venture with Prudential Real Estate . The renovation project will focus on both the interior and exterior and will take approximately 30 months. Mike Rovner Construction and the architect is Area Architecture are building and designing the renovation. The first phase of the renovation will upgrade 65 units as well as a new leasing office and fitness center, and will be completed in May of this year. The interior renovations include updates to all appliances, fixtures and balconies, as well as installation of high-efficiency windows and new central heating and air conditioning. All of the property’s amenities will also be overhauled. The property was originally built in the 1970s, and sits on 19 acres of land. Most of the units have an ocean view, and the property has 408 boat slips, which will also be updated. Legacy Partners did not respond to a request for comment before the publication of this story. Legacy Partners is also under development on the Neptune Marina, also in Marina del Rey. The property has been stalled due to legal battles, but is finally in preconstruction with approved designs. Ground is expected to break on the project later this year.  

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