May 17, 2020
Ryan Companies’ eight-building, 480-unit multifamily project in Millenia’s Otay Ranch master plan development in Chula Vista is moving forward now that the land has been acquired. The project is a joint venture among MetLife Investment Management, Allstate and Ryan Companies US, Inc., and will be part of Allstate’s investment portfolio.
Ryan Companies’ Mike Mahoney says, “Ryan and our experienced partners, including MetLife Investment Management, Allstate, Meridian Development, Stratford Land and the City of Chula Vista, are all passionate about providing high-quality living options and amenities for the community. We are excited to deliver a unique multifamily development that will further distinguish Millenia and provide a fresh approach to renting within South San Diego County.”
The 512,000-square-foot project will include market rate luxury apartment units, 16,000 square feet of commercial space and an abundance of amenities. Ryan expects to break ground this summer and plans to deliver the first building in late 2021. Millenia is a 210-acre mixed-use community developed by Meridian Development.
For comments, questions or concerns, please contact Dennis Kaiser