LucéHuntington Beach, California
Lucé is an 8.5-acre property located at the southwest corner of Edinger Avenue and Gothard Street, four miles from the Pacific Ocean in the city of Huntington Beach. The site was originally brought under an option contract by 4Terra’s principals while at Archstone. These same principals also initiated the entitlement process. The succeeding owners of Archstone dropped the option contract subsequent to the Archstone sale. 4Terra’s principals entered into an agreement with the landowners to obtain the entitlements for the project, which were completed, and placed the site under contract.
KNR – an affiliate of 4Terra – created a new joint venture with a national institutional partner, closed on the land, completed the design and permitting process, and commenced construction in January 2016.
Lucé offers four-story wood-frame buildings surrounding a central five-story parking structure, and is scheduled to open in late 2017.
KNR HB SPONSOR, LLC, in a joint venture with Monogram Residential Trust, Inc. (NYSE: MORE) (F/k/a Behringer Harvard Multifamily REIT I).
- 510 apartment homes
- Total Project Cost: $150m+
- Construction Start: Q1 2016
- Projected Opening: Q4 2017
- Within walking distance to Bella Terra Mall, and retailers such as Whole Foods, REI, Costco, Barnes & Noble and Century Theaters
- Resort-style amenities include 2 large pool courtyards and 4 additional themed areas