Majestic Realty Enters Multifamily Market
- Sep 11, 2018
Majestic Realty Co. has broken ground on SUMMIT Apartments in Redlands, Calif., the first multifamily project in the company’s history. The developer plans to finish construction on the 281-unit project by the end of 2019, with some units becoming available as early as July.
Located just northwest of the intersection of the Foothill Freeway and Interstate 10, the 10.5-acre project site is positioned next to Majestic Realty’s Mountain Grove and Citrus Plaza, two retail centers totaling 1.2 million square feet. In the future, the developer will build a 110-key hotel, a grocery store and additional restaurant space.
Plans for the development call for a mix of one-, two- and three-bedroom apartments, with floor plans ranging from 666 to 1,256 square feet. Community amenities will include a 4,400-square-foot clubhouse, a swimming pool, a fitness center, a dog park and complimentary Wi-Fi.
“The SUMMIT Apartments will provide a unique opportunity to reside in a suburban multifamily community that has urban in-fill characteristics,” John Hunter, Majestic Realty’s retail senior vice president & director of development told Multi-Housing News. “Residents will enjoy a pedestrian pathway into the Inland Empire’s two largest and most popular retail, entertainment and dining areas.”
Approximately 30 miles to the west, a joint venture between Trammel Crow and HQ Capital announced plans for a 211-unit community in Montclair, Calif., in March.
Image courtesy of Majestic Realty Co.