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Project Type: Residential Community
Rental Units: 501 Rental Condominiums
Townhomes: 38 Split-Level Townhomes
Project Size: 36 acres
Project Cost: $35 million
Project Value
at Completion: $40 million
Estimated ‘99
Project Value: $50 million
Completion: 1992 |
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The Crest at Phillips Ranch consists of 501 rental
condominiums and 38 townhomes. Completed in 1991,
the multi-phase project sits atop a prominent
hillside overlooking the city of Diamond Bar and
the Pomona Valley. Taking full advantage of the
hilltop views, The Crest was specially designed
with an innovative site plan consisting of 501
units arranged along the perimeter of three circular
courts. This allows every unit a spectacular view
of the scenery below. Garages and additional parking
are located within the center of each court. The
rental units were built to condominium standards
with each unit completely equipped with a wood-burning
fireplace, a private patio or balcony, washer/dryer
hookups, garage parking and individually controlled
central air conditioning and heating. Property
amenities include swimming pools and spas, two
regulation size racquetball courts, a high-tech
fitness center and a large clubhouse. Since its
completion, the property has maintained a high
occupancy rate, while remaining at the top of
the rental market in terms of pricing. The project
was financed with approximately $8 million of
private equity and over $27 million of institutional
debt.
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Huntington Beach, California 92647
208-429-9919
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