California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Ryan, Strata Equity JV to Develop Chula Vista Luxury MF
Ryan Companies US, Inc. and Strata Equity Group, Inc. have formed a joint venture to develop Millenia Lot 19, a 278-unit luxury multifamily project within the Millenia master-planned community in Chula Vista. The JV has reached financial closing and begun construction on the 340,000-square foot project, comprised of four mid-size buildings and 1,180 square feet for commercial space.
“With the success of our recently completed multifamily community in Millenia, The Avalyn, our team looks forward to bringing more high-quality residential options to this urban village,” said Daniel Bertao, VP of real estate development, Ryan Companies. “The start of this project comes at the right time as the demand for housing continues to grow across San Diego’s South County while construction starts in the region have decreased significantly.”
The project will be built on the last residential site in the Millenia master plan, for which Meridian Development has been the master developer over the past two decades. The first units at Millenia Lot 19 are expected to be completed in the fourth quarter of 2025.
- ◦Development
