A groundbreaking celebration on February 16 marked the official beginning of work on The Village at Santa Monica, a project that has been several years in the making. The $350-million residential and retail development on Ocean Avenue will contain 318 units, including 158 condos and 160 affordable apartments. It will also have commercial space on much of the ground level for restaurants and shops.
Developer Related Cos. estimates that sales will begin in 2013 and the Village will be complete in January 2014. The affordable component will be managed by the Community Corp. of Santa Monica; occupancy will be restricted to tenants with annual incomes less than 60% of the area median (now $50,580 for a family of four). The master plan and condos were designed by Santa Monica architecture firm Moore Ruble Yudell, and the apartments were designed by Santa Monica-based Koning Eizenberg. Related has begun excavation on the Village's underground garage and has set up a web site for the project at www.VillageatSantaMonica.com.