SAN DIEGO — The Richman Group of California has announced its plans to build three new residential/mixed-use projects in Southern California. The new communities will be located in Los Angeles, Orange and San Diego counties. They will contain a total of 326 apartment units for a combined value of $150 million.
Richman’s first project is a 95-unit, affordable seniors community at 345 Commonwealth Ave. in Fullerton. The six-story, 130,000-square-foot midrise building will contain 3,200 square feet of retail space, as well as a subterranean parking garage. It is scheduled for completion in spring 2016.
The group also plans to break ground on a 132-unit luxury apartment community in Cerritos later this year.
The firm most recently received approval for F11, a 99-unit apartment community in San Diego. It will front the north side of F Street, between 11th Avenue and Park Boulevard.
F11 will feature 5,644 square feet of street-level commercial space, resident and guest parking spaces, and indoor and outdoor recreational amenities. The U-shaped tower will surround a south-facing courtyard and pool area. Other amenities include exercise facilities and a bowling alley.
The Richman Group is partnering with Shearn H. Platt, a subsidiary of the Richman Group Development Corp., on the San Diego project.
The development team includes Nexus Planning Consultants, architect DesignARC, and landscape architects Wimmer Yamada and Caughey. Construction on F11 is scheduled to commence in the first quarter of 2016. It is expected to be completed within 18 months.