Real Estate
Home›Real Estate›Residential›USA Properties Fund and Irvine Co. start 338-unit Tust…
USA Properties Fund and Irvine Co. start 338-unit Tustin affordable complex
The Terracina at Tustin Legacy project is expected to finish by mid-2029, with leasing and some move-ins beginning in the second half of 2028.
USA Properties Fund and Irvine Co. have started construction on Terracina at Tustin Legacy, a 338-unit affordable apartment complex in Tustin that is set within a 1,600-acre master-planned development built on a former Marine Corps Air Station site, according to Bisnow.
The project will offer one- to three-bedroom apartments and will include amenities such as a clubhouse, swimming pool, and a parking garage. Construction is expected to be complete by mid-2029, with leasing and some move-ins in the second half of 2028.
Bisnow also notes that Hackman Capital Partners hired David Felman as chief financial officer, where he will lead finance functions, guide financial strategy, and work with the executive team.
The deal sheet further highlights multiple other local transactions, including Positive Investments selling a 138-unit multifamily complex in Pomona for $36.7 million, or just under $266,000 per unit, and The Olson Co. buying an 8-acre office campus in Monterey Park to pursue an office-to-residential conversion.