Marina del Rey in California

Photo credit:  DesignARC

Merlone Geier Partners, GLJ Partners Announce New Sustainable Mixed Use Apartment Project

Project will be Eco-First for Coastal Community

LOS ANGELES – June 25, 2010 – Merlone Geier Partners (MGP), in partnership with GLJ Partners, announces a new $110 million mixed use housing project in Marina Del Rey, located at 13480 Maxella Ave. on the corner of Maxella and Lincoln Blvd. – the gateway to the Marina Del Rey and Venice neighborhoods.

The two planned modern mid-rises, consisting of 244 luxury apartment homes above 9,000 square feet of retail space and two levels of parking, will be the only residential project of this size in west Los Angeles that is projected to open in the next two years.  In compliance with the City of Los Angeles’ affordable housing regulations, 24 of the units will be offered at below market rates.

Groundbreaking is planned for September 2010, with completion targeted for spring 2012. GLJ West Builders, the project’s general contractor, is soliciting bids at this time.

In compliance with Los Angeles’ green building ordinance, the project will be LEED (Leadership in Energy and Environmental Design) certified by the U.S. Green Building Council for its incorporation of sustainable materials, healthier interior finishes and energy-efficient construction techniques – an eco-friendly first for Marina Del Rey. The project team, including architectural design firm DesignARC and Arroyo Interior Design, is striving for LEED Silver certification, the third highest rating a green building can receive. A new pedestrian-friendly streetscape will include 15 new street trees, supporting Mayor Villaraigosa’s “Million Trees Initiative.”

“The chic eco-conscious design of the project, along with a vibrant new streetscape, abundant amenities and retail offerings, will enhance and energize this empty corner, creating an exciting and engaging new entryway to Marina Del Rey,” said Jim Atkins, MGP’s managing partner.

Atkins has a strong background in building stylish, sustainably superior homes. As former managing director of The South Group, Los Angeles’ most distinguished eco-friendly residential development company and national leader in smart urban planning, he helped lead the revitalization of a section of downtown’s South Park neighborhood into L.A.’s first and only sustainable high-rise community – a trio of condos called Elleven, Luma and Evo.  Luma and Elleven were California’s first LEED Gold certified condos, earning accolades from Mayor Villaraigosa and other city leaders, and inspiring the city’s new green building codes and downtown design guidelines.

Atkins and his team’s efforts in Marina Del Rey to create a new green urban high-density, mixed use project – proven to generate less traffic, a reduced carbon footprint and minimize impact on the community – have garnered support from Councilmember, 11^th District, Bill Rosendahl, as well as Del Rey and Venice Neighborhood Councils.

“We’re grateful for the support of the Del Rey and Venice neighborhoods, Councilmember Rosendahl and the Mayor’s office,” continued Atkins. “We couldn’t have proceeded on this project without their support.”

Located only a few blocks from the marina, the apartments will embrace the prevalent coastal vibe, but have a unique urban setting all its own surrounded by a bustling street front of shopping, dining and entertainment offerings. Within easy walking distance are two multiplex movie theaters, three grocery stores, the Villa Marina Marketplace with 70 specialty shops and restaurants and Jerry’s Famous Deli.

The apartments, averaging approximately 975 square feet, will feature refined finishes, modern accessories and exceptional high-end amenities, much like a condominium – all to create a resort-like feel. Amenities will include a swimming pool/spa retreat with a beach, sun deck and private cabanas; community room with event kitchen; sky lounge with marina views; fitness room and yoga studio; spa services, bicycle repair/cleaning/ storage area; Cyber Café, and a media/screening room.

The project is expected to create between 300 and 400 construction jobs over the next two years, plus 10 permanent jobs, not including retail.

About Merlone Geier Partners

Merlone Geier Partners is a private real estate investment firm focused on the acquisition, development and redevelopment of retail and mixed-use properties in California and other western states. MGP and its predecessor entity, M&H Realty Partners, have been actively investing in retail property in California since 1994. The firm has raised $1.6 billion of discretionary equity capital over the past 15 years and most recently closed on its ninth fund. MGP is managed by Peter J. Merlone and Bradley A. Geier.

For more information, visit http://www.merlonegeier.com.

About GLJ Partners

GLJ Partners is a fully integrated real estate operating company, acting as principal, developer and construction manager on each of its projects. GLJ is built on over 60 years of experience in creating residential communities of uncompromised quality and innovative design, engaging top design professionals. The Partners at GLJ focus on providing the best possible living experience to its residents and strive to achieve their total satisfaction.  This focus on great design and resident satisfaction has allowed GLJ to consistently deliver superior investment returns to its investors and partners, plus provide an exciting and rewarding environment for its principals and associates. GLJ’s practice is focused on the markets of Southern California, where its principals have been producing successful projects since 1997. Most of the sites GLJ selects are infill in nature, and require significant close work with stakeholders in the local neighborhood, business community and government.

GLJ constantly evaluates the use of sustainable or green building components, energy and water conserving systems and designs that take the best possible advantage of natural light and shade. As a company policy, GLJ seeks a LEED designation for each project that it builds. For more information, visit http://www.gljpartners.com.

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Tags: GLJ Partners, luxury apartments, Marina Del Rey Apartments, Merlone Geier Partners, villa marina

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