A local affiliate of Dallas-based Trammell Crow Residential Co. has acquired approximately 9.4 acres of land within Chula Vista’s Millenia development for $15.45 million, according to CoStar Group and public data.
The seller was an affiliate of Stratford Land of Dallas, the master developer at the mixed-use Millenia, which spans 210 acres with residential and commercial projects in the works by several developers.
According to the city of Chula Vista, Trammell Crow Residential is proposing to build 309 multifamily units with 602 parking spaces, 4,467 square feet of retail space and 2,084 square feet of restaurant space. The purchased land is near the intersection of Birch Road and Orion Street, north of a future street to be called Millenia Avenue in eastern Chula Vista.
Long-term plans for the multiphase Millenia call for more than 3,000 homes, with 2 million square feet of offices, 1.5 million square feet of retail, and numerous public open spaces and civic amenities. Various developers are expected to invest a total of more than $4 billion over the next several years.