The Carlsbad-based western division of apartment developer Trammell Crow Residential has acquired 20.6 acres on two adjoining parcels in Vista, for a planned $96 million, 410-unit luxury apartment community.
The developer said the project, at 1401 N. Melrose Drive, is a 402,680-square-foot gated community, consisting of 10 three-story residential buildings and two community buildings, to be built in phases.
The development, to be located across the street from the Melrose Drive Sprinter train station, has been approved by the city and construction is scheduled to start immediately. The leasing office and the first apartments are set to open in early 2015, with the entire community expected to be completed by the end of 2015.
Trammell Crow Residential is headquartered in Dallas. Its western division, formerly known as GLJ Partners, has more than 1,500 Southern California apartment units in the pipeline or recently completed.