Irvine, Calif.—Sanderson J. Ray Development recently announced the ground breaking of The Westerly, a new Class A luxury apartment development in Irvine.
Dallas-based Streetlights Residential is the general contractor and co-developer alongside SJRD, while Hawk Holdings acted as the capital advisor on the overall transaction structure. The advisory firm was also responsible for securing the equity partner. The construction and permanent financing was provided through Quadrant Real Estate Advisors. The chief architect on the project is Architects Orange.
Located on the southwest corner of Main Street and Jamboree Road, The Westerly will be a five-story residential building with 388 luxury apartments. The community will be situated on a 5-acre parcel in the Irvine Business Complex. The completed project will include a sixth level rooftop pool, outdoor lounges and a private lounge with full bar. The building is projected to feature a tree-lined entry and upscale landscaping.
The development marks SJRD’s first large-scale luxury apartment project. Completion of The Westerly is estimated for January of 2019.
Image courtesy of SJRD