CA Joint Venture Hopes to Attract ‘New Generation’ of Renters
- Sep 25, 2015
San Marcos, Calif.—Two adjacent mid-rise apartment projects encompassing a total of 416 apartments will be developed in San Marcos, Calif. The developments will result from a joint venture between Resmark Apartment Living, a division of the private equity firm Resmark Companies, and urban community developer Intracorp Companies.
“San Marcos is a desirable submarket of San Diego with an undersupply of Class A multifamily product,” Resmark Apartment Living President Ziv Cohn told MHN. “The project will provide residents of the community with quality housing options while maintaining proximity to employment and convenient commuting routes, participating in a top-tier public school district and enjoying superior affordability relative to San Diego coastal locations.”
To be called Marc San Marcos, the development will include the 220-unit, three-building Marc East, and the 196-unit Marc West, which will feature three buildings and 15,000 square feet of ground-level retail space. Marc East is projected to consist of 199,234 rentable square feet; Marc West 176,304 rentable square feet. The community will be adjacent to a park with a picnic area, toddler play area, dog park, pickle ball courts and passive play area, situated on the northwest portion of the parcel.
Each of the two components of the development will offer for residents’ exclusive use a pool and spa, fitness center, clubrooms and poolside lounges with fireplaces. Also featured will be a community garden and additional drought-tolerant green space.
Marc San Marcos will offer a blend of apartment sizes, including studios, one-, two- and three-bedroom residences ranging from 650 to 1,250 square feet. Also offered will be two-bedroom, 2.5-bath townhomes ranging from 1,100 to 1,357 square feet.
Designer kitchens with quartz countertops and stainless steel appliances, stacked washer/dryer units, private balcony, elevator access and prewiring for contemporary technology will be among the most notable features of the residences.
Marc San Marcos will feature architectural elements like metal cornices, railings and entry canopies designed to enhance the urban sensibility of the development. Ground floor retail spills into outdoor plazas, while gardens offer contemplative spots for walking and relaxation.
“The project’s location is safe, suburban, and walkable,” Cohen said. “Plusses of the site include proximity to major North San Diego employers and transportation routes such as Highway 78 and the SPRINTER line, location within walking distance of Palomar College, and close proximity to retail and recreational amenities such as Old Restaurant Row and Grand Plaza mall.”
SPRINTER, the commuter link linking several San Diego county cities, as well as San Diego and Los Angles, will be just a short walk away for Marc San Marcos residents.
The popular North County restaurant and nightlife setting called Old Restaurant Row is only about 1.5 miles from the new development.
“Intracorp is focused on developing communities that attract a new generation of residents who prefer shorter commutes and public transportation options, as well as well-thought-out amenities that foster community and enhance quality of life,” says Peter Lauener, regional president of Intracorp’s Southern California and Hawaii operation. “The Marc development brings these criteria together and continues to add new dimension to San Marcos’ growing presence in San Diego County.”
Marc West is expected to welcome first occupants in late 2016, with first occupancies expected at Marc East in spring 2017.