ANAHEIM : Another Developer Picked for Project
The residential portion of Anaheim’s massive downtown redevelopment project will be built by a new developer, under changes approved by the City Council last week.
The council unanimously agreed to hire Kaufman and Broad of Southern California to build the 22-acre Heritage Place housing project after the initial developer, Lincoln Property Development Co., was unable to secure construction financing.
Groundbreaking on Heritage Place took place earlier this year, and building preparations have progressed despite the change in developers.
Lincoln Properties will continue building the rental and commercial components of the project, and under the new agreement all construction should be complete by March, 1993.
Heritage Place has been called a unique attempt to mix small-town coziness and modern shopping conveniences by building rental units atop storefronts and putting townhouses, single-family houses and apartments in the same community.
The $54-million project is designed to provide housing within walking distance of the city’s downtown area.
Kaufman and Broad paid the city $3.2 million for about eight acres of land to build the houses and townhouses. The single-family houses will sell for $190,000 to $240,000; townhouses will start at $161,000, and rents will range from $725 to $875 monthly.
The houses will span both sides of Lincoln Avenue in the block east of Olive Street, and are part of the $200-million downtown redevelopment project that includes the towering 200,000-square-foot Koll Anaheim Center and other office, entertainment and commercial developments.
