First Multifamily Build in 30 Years Opens
ByWith 2,000 attendees and an outstanding speaker lineup, you can’t afford to miss RealShare APARTMENTS in Los Angeles on October 21-22.
The property has 450 apartment units and 17,000-square-feet of retail.
WEST COVINA, CA—Lennar Multifamily Communitieshas completed the first new construction multifamilydevelopment in West Covina in 30 years and is preparing to launch leasing efforts. The Colony at the Lakes is s 450-unit apartment complex with 17,000 square feet of retail space adjacent to the Lakes shopping center. The developer launched marketing efforts last month on the property—to major success—and is hoping to beginMOVING
in new residents next month.
“There has been such a large movement toward urbanization in Los Angeles, and there is such a demand for new and contemporary apartments that are in walkable urban neighborhoods,” Tina West, VP of property operations for Lennar Multifamily Communities, tells GlobeSt.com. “Los Angeles has a lot of new construction apartment inventory and the price point has really escalated as a result of the demand. Places like West Covina are such a short commute away from places like Downtown Los Angeles and Downtown Pasadena, so we really saw a huge opportunity to provide that level of luxury contemporary apartment building in a very walkable neighborhood that has not existed in nearly 30 years in West Covina. That was really our goal in bringing this community to the marketplace. Until now, this type of development has not existed.”…
