Malibu-based Marquis Property Company Ltd has acquired
the one-acre development site at the south corner of Ocean Avenue and San
Vicente Boulevard in Santa Monica to build 20 “ultra-luxurious” villa homes and
Marquis acquired the one-acre site at 301 Ocean Avenue
from developer Trammell Crow for $21 million.
All plans, permits, and project materials have been
transferred to Marquis with construction scheduled to begin in 2014.
The current plan was developed by Santa Monica-based
Architect Howard Laks and Malibu-based designer Michael Lee.
The villas will be 4,000 to 6,000 square feet per unit,
with private elevator access into each residence from individual parking
Marquis said this would be the first condominium project
to be built in the past 20 years on Ocean Avenue.
The project’s site currently contains a 47-unit vacant
apartment complex that was built between 1952-1958. Attempts to have the
complex designated as a city landmark were denied by the City Council in July
Santa Monica’s Planning Commission unanimously approved
the development in August 2010; the City Council gave its stamp of approval in November
Copyright © 2011 by Santa Monica Mirror. All rights reserved.