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AvalonBay Joins Hines for 650-Unit Brea Place MF
Hines is partnering with AvalonBay Communities, Inc. to develop a 653-unit multifamily community within the 30-acre Brea Place mixed-use campus on State College Boulevard in Brea, CA. The developer secured entitlements for apartment residences to appeal to members of a growing Brea workforce looking for an upscale “Live, Work, Play” environment.
Advanced design for the apartments is underway, as is construction of the parking garage expansion to bring the upgraded campus to life. Ground breaking for the apartment buildings is scheduled for Q1 2019, with delivery anticipated by Q3 2020.
Hines acquired the six office-building campus totaling roughly 556,000 square feet in 2014, and subsequently invested more than $40 million in strategic capital upgrades and tenant improvements, including new lobbies, restrooms, a Class A conference/training center, new collaboration/game room, additional outdoor gathering spaces, and upgraded landscaping. Over the last four years, Hines has signed roughly 40 leases, totaling more than 440,000 square feet at the property.
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