Nearly one year after purchasing a three-acre development site in Warner Center, Beijing-based developer BCEGI International Company is ready to preparing to break ground on a multifamily residential complex on the property.
The project, located at 6041 Variel Avenue, will consist of a seven-story structure featuring 263 apartments - including 11 live/work units - above parking for 484 vehicles. Two industrial buildings would be demolished prior to the start of construction later this year.
Renderings of the development, which is being designed by VTBS Architects, portray a contemporary mid-rise structure lined with balconies.
The property's entitlements would also allow for the construction of a 12-story, 66,000-square-foot office building. However, BCEGI has no immediate plans to break ground on that component of the project.
Completion of the $75-million development is expected in 2019.