A five-story, luxury apartment complex proposed in Placentia’s older industrial area will move forward, after the City Council this week unanimously approved a development agreement.
The deal will bring in $2.4 million in revenue, result in street upgrades to Crowther Avenue and, officials hope, be a “catalyst” to a further residential and economic development in the Packing House District.
The project’s approval came five months after the City Council changed zoning rules in the area to encourage mixed-use developments near the new Metrolink station, set to open by 2020. The goal, according to a staff report, is to “create a compact pattern of development that is conducive to walking, bicycling and using public transportation.”
“I like this project. A lot of thought was put into it,” Councilman Chad Wenke said at the Tuesday, Sept. 19, council meeting. “This will be a really impressive kick off for the TOD (transit-oriented development) area.”
The five-story complex, on 2.95 acres of Crowther Avenue on which the Boys & Girls Club once sat, will include 215 units – 100 single-bedroom and 115 two-bedroom units – ranging from 734 square feet to 1,185 square feet in size.
Amenities would include a clubhouse, pool and fitness center atop a seven-story parking structure. There will also be 494 parking spaces, 39 of which will have electric-vehicle charging stations, 44 bicycle parking spaces and 48 bike storage lockers, the staff report said.
The project, planned by Integral Communities and Lyon Living, must break ground no later than July 2019, but will likely start earlier, said Joe Lambert, the city’s director of development services. The complex’s opening should “be approximately concurrent with the forthcoming Placentia Metrolink station,” he added.
Because the complex is the first in – and its success, officials said, is paramount to the creation of – potentially a string of developments, it is not required to have retail included in the project, Lambert said. Future developments will likely have to have retail on the first floor.
“The success of the first project or ‘catalyst’ project is absolutely imperative to ensuring the success of the TOD project area in the long term,” Lambert said in a statement. The “project will provide a tangible example of the type of development envisioned for the TOD project area, and will serve to further the interest of the development community in Placentia.”