The proposed redevelopment of the Neptune Marina apartments has gotten a much-needed shot in the arm.
According to a document from the Los Angeles County Board of Supervisors, Greystar Real Estate Partners has taken over a majority stake in the $300-million project, which encompasses nearly 10 acres of property overlooking the Marina del Rey waterfront. Legacy Partners, a California-based firm, has spearheaded the development process thus far and will retain a stake in the development.
The existing Neptune Marina, one of the earliest housing complexes in Marina del Rey, consists of multiple two-story structures at the intersection of Via Marina and Marquesas Way. Under the joint plan from Legacy and Greystar, those buildings would be demolished to make space for a series of four-story structures featuring 526 apartments, modern amenities and a new waterfront promenade.
The website of TCA Architects, the design firm behind the project, states that the new buildings would incorporate texture, stone accents and a natural color palette. Common spaces such as lobbies, mail rooms and boater facilities are placed along the public edges to ensure street activation. Overall, the design takes inspiration from the mid-century modern style, reflecting Neptune Marina's 1960s heritage.
A construction timeline for the project remains unclear.