You know, there's really not enough coverage of Monrovia development. But thankfully we can report the Courtyards at Old Town, an 163-unit apartment development located in old town Monrovia, broke ground yesterday. According to Globe St, the development will have 6,000 square feet of retail. More via the trade publication: "According to Dan Deibel, vice president of development for Urban Housing, the new project will bring access to neighborhood-serving retail space, transportation and employment centers to the infill location." The project, designed by the architecture firm KTGY (also behind downtown's Market Lofts) is expected to be completed by April 2010.
Monrovia (November 4, 2008) — Urban Housing Group, a privately held real estate company specializing in the development of multifamily and mixed-use apartment communities is pleased to announce the ground breaking for “The Courtyards at Old Town,”; a new residential community containing 163 luxury apartments and 6,000 square feet of commercial retail space located in the heart of old town Monrovia, California.
Urban Housing Group, a leading player in the development of apartment communities, along with its partners and city officials, held a reception and ceremony on November 4, 2008 to celebrate the project’s groundbreaking.
“We are pleased to have the opportunity to work with the City of Monrovia and to bring quality, rental housing to the city. Our new community will offer access to neighborhood serving retail, transportation and employment centers, all characteristics of a strong, viable in-fill location. The city recognized this opportunity and embraced our vision,” said Dan Deibel, Vice President of Development for Urban Housing Group.
Designed by the architecture firm KTGY, The Courtyards at Old Town will contain 163 luxury apartments with extensive community amenities and a convenient location in the center of the historic Old Town District of Monrovia on Myrtle Avenue. The four-story buildings will house spacious one bedroom and two bedroom floor plans along with 6,000 square feet of resident serving ground floor retail and commercial space.
The community will offer abundant common area amenities including a pool and spa, fitness center and clubhouse, seven landscaped courtyards. Luxury interior finishes including granite countertops, maple cabinets, broadband wiring, in-unit laundry and nine-foot ceilings, will establish The Courtyards at Old town as one of the area’s premiere rental living locations.
“We continue to build upon our 50 + years of multifamily development experience through our parent company, the Marcus & Millichap Company,” said Larry Scott, Managing Director of Urban Housing Group. “The Courtyards at Old Town will further establish Urban Housing Group as a preeminent urban infill developer of apartment communities throughout the region, allowing us to offer our residents premier apartments, locations, options and amenities.”
The Courtyards at Old Town
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The community, financed by HSBC Realty Credit Corporation, is scheduled to be completed April 2010.
Award winning KTGY Group has built a long-standing reputation for excellence in the planning and design of large-scale mixed use and residential communities, retail developments and other related specialty projects throughout the United States. With a combined staff of roughly 350 professionals in its four offices, the firm combines the hands-on boutique approach of a small firm with the advanced technological capabilities and the global understanding of a large company. Known for site-sensitive, contextually appropriate yet innovative designs, KTGY Group has received nearly 150 awards for design excellence, including numerous Gold Nugget Grand Awards.
Urban Housing Group, a subsidiary of the Marcus & Millichap Company, is a privately held real estate development company specializing in the development of multifamily and mixed-use residential communities throughout the western United States. Urban Housing Group develops communities intended to offer a more convenient lifestyle, located near employment centers, transportation hubs and entertainment venues.
For more information, please contact Erin Foreman at Urban Housing Group at 310.658.5758.