Tiny Tim Plaza in Santa Ana is now home to 51 affordable apartments – Orange County Register
A former mixed-use property anchored by a gas station in Santa Ana is now a combination of affordable housing and commercial space.
The $ 31.4 million Placita Cinco, or “little plaza,” has 51 apartments and a range of commercial space developed by Community Development Partners and designed by City Fabrick and TCA Architect.
Two commercial structures that made up the old Tiny Tim Plaza have been redeveloped at the corner of Fifth and Hawley streets. The gas station was razed to make way for the building, which has 20 two-bedroom units, 29 three-bedroom apartments and two four-bedroom units.
The community celebrated its inauguration this summer. Residents started moving in between January and spring. Rents at La Placita range from $ 1,682 to $ 2,154. Qualified applicants earn between 30% and 60% of the city’s median income of $ 66,000.
Facilities include a garage, community rooms, computer center, laundry rooms and a picnic / play area in the backyard.
Commercial tenants on the site include a restaurant, bakery, market, butcher, lounge and laundromat.
âOur intention was to provide vibrant retail and residential businesses while revitalizing this neighborhood of Santa Ana,â said Tim Mustard, director at TCA Architects. âThe residential component ensures a 24/7 presence by locating accommodation in direct proximity to shops and work environments.
The community was partially funded with $ 6 million from the city. He recently won the Jack Kemp Excellence in Affordable and Workforce Housing Award from the Urban Land Institute.
The project was designed by City Fabrick and will be operated by Mercy House. Other main partners include Magis Realty, JDLA (landscape architect), Walton Construction (general contractor) and Ware Malcomb (civil engineer).
First lease for CAVU in Irvine
TWINSTEPS Architecture signed a 6,000 square foot lease for its head office at Ceiling and Visibility Unlimited Business Park at 18872 Macarthur Boulevard in Irvine, according to Newmark Knight Frank.
The terms of the lease were not disclosed by NKF.
This is the first lease signed on the property since the start of a site renovation. CAVU, in case you were wondering, is an aeronautical term for ideal flight conditions for pilots. The resort is across from John Wayne Airport.
Richard Sung, Andrew Robben and Daniel Nabavi of Newmark represented the landlord, Camphor Partners, during the negotiation of the lease.
âWe are delighted to move our head office to the CAVU business park. It is a privilege to be the first tenant of this incredible development, âsaid Pete Morris, President of TWINSTEPS, in a statement. âWe see this as an opportunity to continue growing our business locally, regionally and nationally.
Newmark also provides property management services for the campus. Scott Wetzel of JLL represented the tenant.
The CAVU business park consists of two 50,000 square foot, four story office buildings. The property is undergoing a complete renovation to update the mechanical systems, elevator cabins, landscaping, closed lobbies and common areas.
JLM buys from Phoenix
Santa Ana-based JLM Corp. has acquired Center Pointe Deer Valley, a 33,367-square-foot multi-tenant office building in Phoenix for $ 6.4 million.
The deal, which is part of a 1031 exchange, was negotiated by Cushman & Wakefield.
Eric Wichterman and Mike Coover of Cushman & Wakefield represented seller Pinnacle Campus Office-Retail.
IHP continues its development efforts in Utah
Newport Beach-based IHP Capital Partners and Fieldstone Homes, a homebuilder in Salt Lake City, have purchased 135 single-family home lots in Daybreak, a planned community in southern Jordan, Utah.
The terms of the sale were not disclosed by either company.
This acquisition marks the fifth project the two companies have been developing in the Salt Lake City area since early 2020.
Construction on the Daybreak Homes began in October. The first commercial version is expected at the end of 2021.
The homes will range in size from 2,800 square feet to 3,500 square feet and are suitable for first-time home buyers and home buyers.
Belmer joins the housing association
David Belmer is the new director of housing development at Families Forward, an Irvine-based non-profit organization that helps local families who are homeless or at risk of becoming homeless.
He will oversee the planning and operations of all affordable housing development projects for the organization, including improving the execution of existing projects and identifying new development and redevelopment opportunities.
During his 30-year career, Belmer has held various leadership positions overseeing municipal development projects in Garden Grove, Cypress, Lake Forest and Anaheim.
Most recently, he was Director of Planning and Development for the City of Anaheim, where he oversaw the planning, construction and preservation divisions of the community, coordinating major special projects across the city. the city, negotiated complex real estate and development transactions, and led affordable housing initiatives.
Thomas James Homes, a home builder based in Aliso Viejo, has won multiple awards at the 2021 SoCal MAME Awards.
Gina Nixon, Executive Vice President of Marketing for TJH, received the BJ Stewart Women’s Achievement Award, which recognizes a woman who has contributed her time and expertise on behalf of the construction industry and other charitable causes.
Thomas James Homes also won the “Best Website – Builder” award, as well as 10 finalist mentions. The âOnline Sales Professional of the Yearâ award went to TJH’s ââonline sales specialist, Casey Jones Atkinson.
The SoCal MAME Awards are sponsored by the Greater Sales & Marketing Council and the Building Industry Association of Southern California.
Real estate transactions, leases and new projects, industry hires, new businesses and upcoming events are compiled from press releases from editor Karen Levin. Email items and high-resolution photos to Business Editor Samantha Gowen at [email protected] Please allow at least a week for publication. All elements are subject to change for clarity and length.