Greystar Real Estate Partners is nearing completion for Avila, a new residential-retail development near the corner of Walnut Street and Fair Oaks Avenue in Pasadena.

The $100-million project, a joint venture with Ivanhoé Cambridge, consists of a five-story building featuring 201 rental units studio, one- and two-bedrooms ranging between 523 and 1,314 square feet.  Plans also call for 10,000 square feet of ground-level retail space, as well as a fitness center, a recreation center, multiple courtyards and a swimming pool.

Completion is expected by the second quarter of 2018.

The property sits immediately north of the headquarters of engineering firm Parsons.  The sprawling parking lots surrounding the office building are slated to give way for a mixed-use complex known as 100 West Walnut, which would feature 210,000 square feet of offices and 475 apartments above ground-level shops and restaurants.

Image via Greystar Real Estate Partners
Image via Greystar Real Estate Partners

From the Web

Senior Affordable Housing Opens Near Orange County's Great Park

The two-building development features 157 apartments.

Developers Related California and FivePoint have opened a new affordable housing complex near Irvine's Great Park.  The project, called Luxaira, features 157 residential units catering to low-income seniors.  It is the second senior affordable development to be built in the Great Park neighborhoods by Related, FivePoint, and collaborator RCC Charitage.  To date, more than 500 affordable housing units have been built around the park in four separate projects.