351-Apartment Complex, Retail Space Planned for Industrial Area
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Ground-breaking for a 351-unit apartment and retail complex in the city’s industrial core will be in January, officials said Friday.
The $50-million residential project, to be developed by Lincoln Property Co., will include 97 units designated as affordable housing and 9,500 square feet of retail shops facing Colorado Avenue, said consulting architect David Hibbert.
The project, billed as the largest residential-and-retail development in Santa Monica, was approved by the city’s Planning Commission earlier this week.
“The city definitely hoped for housing” in planning the long-stalled Arboretum complex, said commission Chairman John Zinner. “We are thrilled that we are getting a significant number of apartments.”
The Arboretum development--between Olympic Boulevard and Colorado Avenue and 20th Street and Cloverfield Boulevard--consists of a Ralphs supermarket and the Sony Music Entertainment office building.
Two new office buildings are also scheduled for construction there, with work on one beginning in September.
The seven-story Arboretum Villas apartments should be completed in February, 1999, Hibbert said.
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