Village Partners Ventures Plans Montclair Mixed-Use Project

Village Partners Ventures, a joint venture between Village Partners and the Bascom Group, has announced plans to build a mixed-use property in Montclair, California. The joint venture purchased the six-acre land site for $10 million and secured a $77 million construction loan.

Known as Village Montclair and located at 5050 Arrow Highway, the property will feature 350 apartment units with ground floor street front retail. New Urbanist design firm Torti Gallas has designed the property as a “walkable transit village” and has included a Village Square and the Station Promenade as public spaces in the project as well as a pedestrian connection to the Montclair Transit Station and future Metro Goldline.

In addition to walkability, the property is also outfitted with luxury amenities, including a pool and spa, co-working suites, clubhouse, parcel lockers, and a fitness facility. It also features landscaped courtyards. and a rooftop deck.

The project is being developed within Montclair’s North Montclair Downtown Specific Plan, which covers more than 200 acres with the goal of creating a walkable district supported by public transit. Overall, the plan calls for the development of 2,500 new residential units and commercial space over the next decade.

Updated general plans have been an increasingly popular way to drive growth, better access to public transit and more housing in Southern California. In San Diego, the Kearny Mesa Community Plan Update was approved in November 2020, and according to Jason Paguio, Asian Business Association president and CEO, the plan “provides a blueprint to maintain the area as a major San Diego employment center while also increasing its residential population from approximately 10,000 to 60,000 by adding roughly 26,000 new homes in the next 30 years.” It addresses the area’s need for housing and includes a new zoning overlay in the Convoy District—the city’s entertainment area. The Montclair plan is a similar concept.

The joint venture between Village Partners and Bascom Group formed in 2016 to focus on transit-oriented opportunities, like this. Known as Village Partners Ventures, the joint venture targets transit-oriented and mixed-use multifamily development opportunities in Southern California with plans to invest $200 million over the next four years.