Two-and-a-half years after filing plans to redevelop the Marina Marketplace in Del Rey with a mixed-use apartment complex, developer Sares-Regis Group is taking another step forward with the project known as "Paseo Marina," with the release of a draft environmental impact report for the project.
Slated for a six-acre site at the southwest corner of Maxella and Glencoe Avenues, the proposed development calls for razing the existing parking and retail buildings to make way for the construction of three seven-story structures. At completion, the Paseo Marina development would consist of 658 apartments - of which 66 would be reserved for low-income households - with 27,300 square feet of shops and restaurants lining the first and second floors, and parking for over 1,200 vehicles on two basement levels and two podium levels.
The project takes its name from the two landscaped paseo intended to cut through the property. The park-like space, designed by landscape architecture firm RELM, will be publicly accessible but privately maintained according to the environmental report. Plans call for townhome-style units to face the pedestrian pathways, and one- and two-bedroom apartments on the floors above.
The buildings themselves, designed by TCA Architects, would be of a contemporary architectural style, with cantilevered balconies and canopies used to provide open space and create shade below, and exterior finishes including stone veneer, simulated wood, and plaster. Renderings show that the upper floors of the buildings facing Glencoe would be stepped, providing a more graceful transition to the lower height of a neighboring condo complex across the street. Podium-type amenity decks would also open onto Glencoe and further break up the mass of the new construction.
Construction of Paseo Marina is expected to begin in 2020 and continue over a period of approximately 37 months, with a final buildout anticipated in 2023. Some tenants of the existing Marina Marketplace have already relocated in anticipation of the project.
The Paseo Marina site is located south of the Del Rey Arts District, where local developer California Landmark Group has built hundreds of apartments over the past 15 years - including the $100-million G8 apartments now under construction at 4040 Del Rey Avenue.
Sares-Regis Group, headquartered in Irvine, is building several projects in the Los Angeles area - including a trio of mixed-use apartment complexes in Downtown Long Beach.
- Paseo Marina (Urbanize LA)