Ryan Companies U.S. Inc., and Strata Equity Group, Inc. have formed a joint venture announcing the beginning of construction for Millenia Lot 19, a 278-unit luxury multifamily project comprised of four mid-sized 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, vice president of real estate development, Ryan Companies in a press release. “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.”
Ryan is the developer and builder, and Ark Architects, Inc., a greater San Diego area architectural and planning firm, is the architect of record for the project. First units of Millenia Lot 19 are expected to be delivered by late 2025.
“Meridian Development is pleased to have Ryan Companies acquire and develop the last residential site in the Millenia master plan,” stated Guy Asaro, president of Meridian Development, master developer of Millenia. “We have had the honor of working on the Millenia project for 20 years and the quality and attention to detail that Ryan brings to projects they build is a fitting salute to the award winning Millenia masterplan.”
Millenia Lot 19 will have 482 parking spaces, a resort-style pool and spa, a rooftop deck with clear views of the Pacific Ocean and Mexico, expansive pet amenities, a state-of-the-art fitness center, and a resident clubhouse. The commercial space aspect of the project will feature a public co-working space that will be open to the greater community. There will also be bike maintenance and storage facilities, and ample community green areas that will promote social gatherings and events among residents. The project will include several sustainable elements including dedicated electric vehicle chargers in every resident garage, a robust solar program with panels both on roof tops and car ports, and energy efficient appliances.
