Barker Pacific Group (BPG), a Los Angeles-based real estate developer, is nearing completion on the condominium conversion of a multi-family residential complex in Old Town Monrovia. The project, known as Colorado Commons, consists of 68 one-, two- and three-bedroom townhomes and four commercial stalls at 517 Falling Leaf Alley. Units are priced starting in the low $400,000s and range from 690 square feet to 2,140 square feet in floor area. All dwellings come appointed with high-quality finishes, energy efficient appliances and dedicated underground parking spaces.
Legacy Partners, a privately-owned national real estate firm, has announced the closing of a ground lease for a 2.81-acre property in Monrovia, adjacent to the city’s new light rail station. The San Francisco-based company is partnering with Griffin Capital and Silverpeak Real Estate Partners to develop MODA at Monrovia Station, a 261-unit multifamily residential development. The project, which is scheduled for completion in early 2018, would include state-of-the-art appliances and finishes, as well as amenities such as a clubhouse, a fitness center, two landscaped courtyards and a 4,000-square-foot roof terrace.
Just one month after acquiring the project, a joint venture between Legacy Partners, Griffin Capital and Silverpeak Real Estate Partners has announced the start of construction for MODA, a multifamily residential complex near the Gold Line’s Monrovia Station. The five-story development, designed by Architects Orange, will feature 261 residential units, in addition to communal amenities such as a clubhouse, two landscaped courtyards, a roof terrace and a fitness center. MODA is among the first projects in a new transit-oriented district surrounding the Gold Line station, which connects passengers to Pasadena and Downtown Los Angeles.