MBK Rental Living and R.D. Olson Construction have broken ground on Esperanza at Duarte Station, a 344-unit luxury development in Duarte, Calif. MBK’s joint venture partner on the project is Haseko Corp.
Rising on a 4.3-acre site at 1700 Business Center Drive, the development will include a five-story building along with a seven-and-a-half-story parking structure that will provide a total of 580 parking spaces. Esperanza at Duarte Station is slated to open in 2023.
Floorplans will include a mix of studios and one- to three-bedroom apartments ranging from 514 to 1,090 square feet. Residents will have access to a coworking area, café, swimming pool, cantina and a rooftop deck with an indoor and outdoor gym. Five separate ground-level outdoor spaces will also be open to residents, including a dog park and a linear park along the length of the property.
Given the City of Hope Medical Center’s proximity, the community is anticipated to draw a broad range of residents, from professionals with a particular focus on frontline workers, to families, empty nesters and students.
The development is next to the Metro Gold Line Station and Interstate 210, some 11 miles from downtown Pasadena and roughly 22 miles from downtown Los Angeles. The Duarte Highschool and California School of the Arts San Gabriel Valley are within walking distance.
Principal Real Estate Investors provided construction financing; the development team also includes Architects Orange, PBA Structural Engineers, and MJS Landscape. Esperanza at Duarte Station marks MBK and R.D. Olson Construction’s second partnership following the 330-unit Artesa at Menifee Town Center in southwest Riverside County.
In the fourth quarter of 2020, MKB delivered its first luxury lifestyle apartment community in Santa Barbara County, Calif. The 318-unit Azure is located in Santa Maria.