This purchase was hinted at earlier, but I was waiting for confirmation.
Shea Properties, one of California’s top residential builders, has embarked on a joint venture with equity partner Ivanhoe Cambridge, a Montreal-based realty firm, to develop the Japantown complex…
Orange County-based Shea Properties intends to develop 520 apartments, along with 19,000 square feet of ground-floor retail, at the Japantown site.
It looks like the specifications of the development may be different from those spelled out by Related and Williams & Dame. Naturally, we can expect to see Shea’s vision for this complex soon.
“This site is a tremendous opportunity,” said Bob Staedler, principal executive with Silicon Valley Synergy, a development consultancy. “Japantown is a highly sought-after neighborhood. It’s a very attractive area. A project here would be very successful.”
Well, I’m glad that someone agrees.