By Ariela Moraru
JPI has landed $132 million in construction financing for Phase II of Jefferson Stadium Park in Anaheim’s Platinum Triangle, Calif. Phase II of the luxury apartment community consists of 376 apartments, including 12 live-work units. The three-phase, master-plan development will feature 1,079 luxury apartment homes, a 1.1-acre public park, as well as 14,600 square feet of retail.
Located on a 17.6-acre site with easy access to Interstate 5 and Route 57, the property is directly adjacent to Angel Stadium of Anaheim. The $132 million financing was provided by East West Bank and First Community Bank. Phase I financing amounted to $128 million. JPI partnered with Beijing-based Grand China Fund in September 2016 to develop Phases I and II in a joint venture.
Designed by Architects Orange, the project has easy access to Anaheim’s Regional Transportation Intermodal Center and is 1 mile from the downtown Disney Shopping District, Disneyland and California Adventure theme parks. Top employers within a 10-mile radius include Disneyland Resort, Kaiser Foundation Hospital, Hilton Anaheim, Cash Call Inc., Mortgage Division and Anaheim Memorial Medical Center.
Anaheim’s Platinum Triangle is expected to generate more than $1.5 billion in investment following a decade of urban re-use planning. JPI currently has four projects in the pipeline within Platinum Triangle, valued at more than $675 million upon completion. Jefferson Stadium Park represents JPI’s 15th investment with Chinese capital in projects that total more than $1.5 billion in the last three years.
“JPI’s investment in the area, not only Stadium Park, but Jefferson Platinum Triangle, equates to approximately one-third of the city’s goals for developer investments,” said Anaheim Mayor Tom Tait in prepared remarks.
Image courtesy of JPI