Building Renaissance Stirs Marina Del Rey Coastal Village?
Building Renaissance Stirs Marina Del Rey Coastal Village?
As we focus on the coastal village of Marina Del Rey, California, we find some creative investors busily work to infuse the boating haven with new life. Some visionaries are capitalizing on the sensational setting, creating a sort of renaissance image. But unfortunately, some efforts have been bogged down in red tape.
Last year Marina del Rey celebrated its 50th anniversary. Unlike most other coastal communities, it was built to port small craft along the Pacific Ocean. Thousands of beautiful boats are kept in Fisherman’s Village, a huge manmade harbor.
Vacant land is scare. Marina del Rey only offers up a total 0.9 miles of land for both public and private use. It is 17 miles west of downtown Los Angeles. So how have some of the latest Marina del Rey real estate investments added value to the seaside community? Below are some details about recent real estate projects. Hopefully, the vision of our coastal village will become reality one of these days.
Courtyard Marriott and Residence
- A new 6-story Courtyard Marriott and Residence Inn is being built on a vacant lot. It will offer 228 rooms in the coastal setting. Downsized from the original proposal of 19 stories, the Marriott property is being leased from Los Angeles County. Welcomed by the Convention and Visitors Bureau, the hotel project will also “strengthen the Marina’s position as a premiere travel and tourism designation.”
Wayfarer Apartments and Marina
- Wayfarer Apartments and Marina is the Phoenix bird rising from the former Mariners Bay apartments. These are studio, one-bedroom, and two-bedroom rentals. A $65 million renovation by Legacy Partners includes heating and air conditioning and other upgrades. Common areas in the low-rise complex include a fitness center, swimming pool, boat slips, and tennis courts.
Marina del Rey AMLI Residential Project
- Next door, 585 residences and a waterfront promenade are going. This is a $165 million project by AMLI Residential with 700,000 square feet on the waterfront.
Neptune Marina
- Legacy Partners is also partnering on a redevelopment of the Neptune Marina apartments across the street.
Villas at Playa Vista
- Villas at Playa Vista is adding a 5-story multifamily building of apartment homes. This is the second phase of the project and will add 1.1 million square feet of options. Playa Vista sits on the east side of the Marina and Ballona Wetlands Ecological Reserve. It is next to Marymount University.
Real Estate Agents Marina del Rey California
For information about Southern California homes for sale and investment properties in Marina del Rey, please call Bob Cumming of Keystone Group Properties at 310-496-8122.
