With construction financing now in hand, a multifamily residential development from the Legado Companies is poised to rise in Santa Ana.

According to multiple published reports, the Beverly Hills-based developer recently secured $128 million in financing for Legado at the Met, which would rise from a currently-vacant site at 200 E. First American Way. Plans call for the construction of a six-story building featuring 270 studio, one-, two-, and three-bedroom dwellings, ranging from 600 to 1,800 square feet in size. Parking for 617 vehicles would be provided in a garage with three subterranean levels and one at-grade level.

MacArthur Place viewLegado Companies

WHA Architects is designing the Legado project, which will reportedly include amenities such as a business center, a lounge, a fitness center, a pool, a clubhouse, and a rooftop yoga area. Plans also call for a public plaza.

Project financing was facilitated by commercial mortgage banking firm Gantry, according to reports.

200 E First American WayCity of Santa Ana

The project site sits just over one mile to the east of two large shopping centers which are poised to make way for even larger developments from Related Cos. and Hines. Those projects, if completed, could create more than 5,000 homes in addition to office spaces, hotels, and other commercial uses.

The Legado Companies already has one big project underway in Southern California: Legado Redondo on Pacific Coast Highway in Redondo Beach. That complex will consist of 115 apartments, a renovated 110-room hotel, and street-fronting commercial uses.

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