Begonia Begins $37M Luxury Los Angeles Project
The 74-unit development, slated to deliver in 2023, will also include 11,000 square feet of retail space.
Begonia Temple City. Image courtesy of C.W. Driver Cos.
Begonia Real Estate Development has broken ground on a 74-unit community in Temple City, Calif. C.W. Driver Cos. is the general contractor for the $36.8 million project, slated for delivery in June 2023.
Designed by Creative Design Associates, Begonia Temple City will feature one- to three-bedroom floorplans ranging from 732 to 1,251 square feet. Apartments will have balconies with built-in firepits and barbecues. The top floor will have 24 penthouse suites with rooftop decks. Three live-work units on the first floor will be storefronts or walk-in offices with loft space above. The property will also include 11,000 square feet of commercial space and 180 parking spaces beneath the structure. Residents will have access to a two-story fitness studio, community room, business center and courtyard.
Located at 5570 Rosemead Blvd., the development is 5 miles southeast of The Huntington and 4 miles south of Los Angeles County Arboretum. A number of dining, retail and entertainment options are available within 1 mile. San Gabriel Valley Medical Center is 2 miles west of the community.
Future plans in a hot market
Begonia will continue its partnership with C.W. Driver beyond this project. The two firms are in planning stages for a 200-unit wrap development 20 miles east in Pomona, Calif.
The wider metro area remains a hotbed of development activity, with nearly 29,000 units under construction as of the start of November, according to Yardi Matrix. The market’s existing inventory has also proven an attractive target for multifamily investors: More than $2.5 billion in transactions closed year-to-date through August, the highest among all markets in the state.
