Irvine-based developer Sares-Regis Group intends to replace Del Rey's Marina Marketplace with a mixed-use complex, per an environmental document published by the Los Angeles Planning Department.
The seven-acre project site, located at the southwest corner of Maxella and Glencoe Avenues, is slated for a trio of seven-story buildings dubbed Paseo Marina. Plans call for 658 residential units, 27,300 square feet of ground-floor commercial space, and amenities such as swimming pools, a spa and underground parking for more than 1,200 vehicles.
A mixture of townhomes, studios and one- and two-bedroom apartments would comprise the project's residential component, with 66 units set aside as affordable housing.
TCA Architects is designing the proposed development, which would be bisected by a pair of pedestrian paseos. Additional open space is planned in the form of street-fronting plazas, a private park and various internal courtyards. The buildings themselves are described as contemporary in design, with exterior finishes such as stone veneer and wood exterior plaster.
Construction of Paseo Marina is expected to occur over a single 37-month period, with completion in 2023.
The adjacent Stella Apartments are also in the midst of plans for an expansion.