Sarah Sitar new Real Estate blog post
Costa Mesa’s City Council recently approved real estate development plans to build apartment complexes in the South Coast Metro district. The plans were pitched by the well-known Sakioka family, who are responsible for multiple valuable real estate development projects in Orange County. The plan proposed was to build a mid-rise apartment complex with 393 units two blocks away from the popular South Coast Plaza. The address of these apartments will be 595 and 585 Anton Blvd. The apartment complex will be called the Symphony Apartments, and this 5-acre plan would replace two vacant restaurants and a parking lot.
These apartment units will be one and two bedroom apartments ranging from 750 to 1400 square feet. Also inside the complex will be additional 4000 square feet of retail space and a parking lot with 731 spaces. The complex will come with a multitude of amenities such as a gym, pool, spa, an open plaza, and a small dog park. Local business owners in the neighborhood consider these apartments a great addition to Costa Mesa’s bustling urban economy. It’s important to develop these complexes as the urbanization of a city develops.
The City Council is also charging the Sakioka family $3,000 for each apartment, which will be going towards developing and maintaining public parks. The reason for this is that the apartments are not ownership housing, so a fee is required from each apartment in the complex.
The neighborhood is surrounded by some of Costa Mesa’s most popular retail and commerce destinations, as well as high-end hotels, office buildings, and similar apartment complexes. Construction is set to start towards the end of 2015 and expected to last 18 months.