Newport Beach, Calif.—Bernards is managing the construction of the Meridian, a new $81.7 million condominium community in Newport Beach, Calif., being developed by a partnership between The New Home Company and Hillwood West.
“Similar to the Meridian, Bernards has completed, and is currently building and in preconstruction, on a wide variety of multifamily projects that appeal to a number of different demographics,” Jocelyn Topolski, Bernards’ business development director, tells MHN. “The appeal of the Meridian is specific to the demographics the developer has identified as the market for this area in Newport Beach, as is the location of the project itself.”
MVE Studio designed the 399,340-square-foot project, which is scheduled for completion in August 2015. When finished, the Meridian will consist of 79 luxury units atop a two–level, cast-in-place concrete, at-grade and below-grade parking structure. Common areas will include a concierge lobby, exercise room, clubhouse and swimming pool.
“The Meridian’s high-end finishes and amenities require our team of professionals to be acutely aware of the quality of construction and the importance of quality installation,” Topolski says. “This attention to detail is what helps the owner/developer to attract discerning residents that appreciate a quality product and price.”
Bernards uses BIM/VDC (Virtual Design and Construction) modeling software and techniques to identify and evaluate construction efficiencies, which is particularly effective for complex projects like this.
“This is a sustainably-designed project that utilizes the modular ConXtech prefabricated structural steel-frame building system, which can be customized to various building types,” Steve Pellegren, Bernards’ vice president of preconstruction services, says. “The simplicity of ConXtech’s structural technology, which involves just a handful of connectors and standardized details, offers an efficient building solution that enables reduced building material, time and labor.”
The Meridian is the first, new for-sale residential project in the Newport Center area in more than 20 years.
Bernards is playing a major role in Southern California’s resurgence of multifamily development, currently constructing nearly one-third of all units under way in Los Angeles and Orange Counties.
A recent report by Marcus & Millichap revealed that approximately 8,100 new units are expected to be completed in 2013 in the two-county region, and Bernards is building 2,600 of them.
“We are seeing the resurgence of the luxury condominium market, which has been non-existent since the economic drop began in 2008,” Topolski says. “Bernards has a proven track record of building large, complex, luxury projects such as the Meridian that require a detailed level of understanding and sensitivity to adjacent properties while under construction. Our experience serves us well when we are called upon to execute meticulously-crafted and well-orchestrated phasing and logistics plans often required with these multifamily, mixed-use complexes.”