Work has begun on a 260-unit complex near the southwest corner of Manchester… (Decron Properties Corp.…)
A big empty lot north of Los Angeles International Airport in Westchester is getting an upgrade: $105 million worth of apartments and shops.
Work has begun on a 260-unit complex near the southwest corner of Manchester Avenue and Rayford Drive called Playa Del Oro West, developer Decron Properties Corp. said.
The development is the second phase of a project Decron began in 2002 with the purchase of 13 acres at Manchester and Lincoln Boulevard that included a 12-story hotel previously known as the Furama and before that as the Airport Marina Hotel.
Decron sold the hotel, now known as Custom Hotel, while developing the rest of the parcel. The first phase, completed in 2009, put 405 apartments over shops in five-story buildings with underground parking.
Los Angeles-based Decron recently secured a $67-million construction loan to get to work on the final phase of Playa Del Oro, President David J. Nagel said.
“The construction of these additional 260 units completes our vision of replacing an old, tired hotel that no longer served this bedroom community with a dynamic, true mixed-use project,” he said.
Upon completion in about 21 months the entire Playa Del Oro complex will have 665 apartments and 110,000 square feet of shops. Retail tenants include Ralph’s Fresh Fare, LA Fitness and Kinecta Federal Credit Union.
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