Bernards Begins Phase II of $67M Mixed-Use Community
By Jessica Fiur, News Editor
Los Angeles—Commercial developer Bernards is building the final phase of Decron Properties Corp.’s $67 million mixed-use project. The community, called Playa Del Oro, is located in Westchester, a suburb of Los Angeles.
The first phase of the project, which replaced the Furama Hotel, was completed in 2009. Phase I included 405 units and 27,000 square feet of retail space, which is currently occupied by a health club and four restaurants. The second phase of development includes adding 260 units, 5,000 square feet of retail space and 515 parking spots.
Amenities for the community include a swimming pool, fitness center, sauna, movie screening room, business center, game room, café lounge with outdoor view terrace, dog park and three courtyards with water features.
Playa Del Oro is designed as podium-style concrete construction, and includes 235 units above the podium slab and 25 units on the ground level with the retail space. The parking spaces also fall below the podium. “The podium-style concrete construction is one of Bernards’ specialties,” Jeff M. Bernards, vice president, Bernards, says.
Tenants for the retail space will include Ralph’s Fresh Fare market, Centinela pet store, LA Fitness Signature Club and Coffee Bean, among others. Financing for the project was arranged by Meridian Capital Group and was funded by Wells Fargo. The community was designed by Van Tilburg, Banvard & Soderbergh, AIA. Construction for Playa Del Oro is scheduled to be completed in the fall of 2014.
“We are pleased that Decron Properties chose Bernards to build this luxury residential project,” Bernards says.Tags: luxury, mixed-use, New Development