In 2016, developer Sares Regis-Group initiated plans to redevelop Del Rey's Villa Marina Marketplace with a mixed-use project consisting of more than 700 apartments and commercial uses.  However tentative plans to break ground on the apartment complex in the near-term future were dealt a setback in March 2019, when Los Angeles City Councilmember Mike Bonin announced his opposition to the project.

"While I would welcome additional housing at the Marina Marketplace location, at nearly 700 units, the current project is drastically over-sized, would significantly increase traffic congestion, and would destroy a walkable neighborhood known and appreciated for having amenities nearby," said Bonin in an official statement posted to his website.  "The project is proposing to eliminate the vast majority of restaurants and shops that locals rely on, forcing thousands of people to hop in their car for basic services they currently walk to."

Nearly two years after Bonin stepped into block the original proposal for the site, called Paseo Marina, Sares-Regis Group has unveiled a scaled-back plan to the Del Rey Neighborhood Council's Land Use Committee.

While the revised project would still sit within the same footprint, Sares-Regis Group has reduced the number of proposed apartments from 658 to 425 - a reduction of 223 units This includes an agreement to set aside an additional 10 percent of dwellings as "workforce" housing - meaning apartments priced at levels considered affordable to a household earning roughly the area median income.

Although the overall size of the project has been decreased by more than 100,000 square feet, the amount of space dedicated to retail will be expanded by 47 percent from the original 27,000 square feet.

The height of the project has also been shaved by one story, with plans now calling for a five-story presence fronting Glencoe Avenue, with buildings set back from the street to create space for a park-like open space with landscaping and outdoor seating. 

The revised plan also increases the amount of parking proposed at Paseo Marina.  Approximately 1,200 vehicle stalls were included in the original concept.

Construction of Paseo Marina is contingent on the approval of a general plan amendment and a zone change, among other entitlements, by the Los Angeles City Council.

A draft environmental study estimated a roughly three-year construction timeline for the prior iteration of the development.

Paseo Marina is the largest in a recent series of mixed-use and multifamily residential developments on the western side of the Del Rey neighborhood, highlighted by California Landmark Group's G8 apartments and Steaven Jones Development Company's INclave complex.