Legacy Partners, a private real estate firm headquarted in the San Francisco Bay Area, has completed work on the first phase of a $65-million renovation of the former Mariners Bay apartments in Marina del Rey.
The low-rise complex, originally built in the mid-1970s, is being rebranded as the Wayfarer Apartments + Marina as it undergoes upgrades to its residential units and common areas. Phase one has improved 57 apartments with central heating and air conditioning, as well as new fixtures and appliances. Communal areas, including Wayfarer's fitness center, swimming pool, boat slips and tennis courts, have been overhauled and expanded.
The collection of studio, one- and two-bedroom apartments will command rents between $2,500 and $5,500 per month.
Mike Rovner Construction and Area Architecture are also partnering on the renovation, which will be completed after 30 months.
Next-door to Wayfarer, developer AMLI Residential is now in the midst of construction on a $165-million development that will create 585 residential units and a waterfront promenade. Across the street, Legacy is partnering on a related project that will redevelop the aging Neptune Marina apartments.
Another nearby property, now a vacant lot, is slated for a joint Courtyard Marriott and Residence Inn hotel.
- Marina del Rey Archive (Urbanize LA)