OCEANSIDE, CA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Melrose, a mixed-use, garden-style apartment community located on the border of Oceanside and Vista in San Diego’s North County.
The community, which will feature 323 apartment homes and 2,100 square feet of retail space, sits eight miles east of Oceanside’s retail-lined downtown area and the city’s several beaches. Additionally, sitting 1.5 miles south of the community is the revitalized historic district of Vista and its multitude of authentic restaurants. First go-ins at Modera Melrose are anticipated for late summer 2026.
“We’ve always admired the North San Diego County area, which is one of the greatest places to live in the country with its proximity to premier southern California beaches and year-round outdoor amenities,” said John Colletti, senior managing director of development in Southern California for Mill Creek. “We’re keen to get started on Modera Melrose, which will place residents within reach of everything the area has to offer. Our team is prepared to deliver a modern living experience with one of the most refined amenity packages in the submarket.”
Situated at 5011-5061 Oceanside Boulevard at the intersection of Melrose Drive, Modera Melrose is located along the Inland Rail Trail, a 21-mile Class I bikeway that stretches through Oceanside, Vista, San Marcos, Escondido and a part of the unincorporated County of San Diego. The community also sits adjacent to the Melrose Drive station, which provides quick connectivity to the surrounding locales and the area’s prominent biomedical and pharmaceutical employers.
Modera Melrose, which will be built to and is pursuing an NGBS Silver certification, will offer one-, two- and three-bedroom homes with select den layouts and an average size of 958 square feet. Community amenities will include a resort-style swimming pool, hot tub, grilling areas, fire pits, outdoor kitchen, resident clubhouse, landscaped courtyards, pool table, shuffleboard, conference room, coworking spaces, private workstations and a club-quality fitness center with cardio equipment and TRX system. Residents will also have access to digital package lockers, controlled-access garage parking, private EV charging stations, bike storage, cold storage and additional storage space.
Homes will include a variety of refined features, including nine-foot ceilings, wood plank-style flooring, stainless steel appliances, quartz countertops, tile backsplashes, soft-close cabinets, movable kitchen islands, pass-through closets, in-home washers and dryers, smart thermostats, keyless entry, controlled-access guest technology and private patios or balconies. Bathrooms will include quartz countertops and backlit mirrors.

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LAKE WORTH, FL – Greystar, a global leader in the investment, development, and management of real estate, announced that Elan Palm Reserve is now welcoming go-ins. Elan Palm Reserve has 384 apartments, 88 of which are workforce housing, in one-, two- and three-bedroom floorplans that range in size from 749 sq. ft. to 1,374 sq. ft.
All residences have stylish quartz countertops, pendant lighting, warm-toned hardwood-style flooring, in-home full-size washer and dryer, gourmet island or peninsula kitchens with GE stainless steel appliances, personal balcony or terrace and a spacious closet in the primary bedroom. Select apartments will also include dual vanity sinks, standalone showers, oversized soaking tubs and flex space that is perfect for working from home.
The community features several amenities that allow residents to relax, including a serenity pool with ledge chaise loungers, poolside kitchen with grills and outdoor dining, a fireside lounge for stargazing, hammocks for daydreaming, a lake with paved trails, a lakeside terrace with a fire table and gaming lawn, a second-tale veranda with a summer kitchen and lounges, and a gated dog park with shade. Other amenities include co-working spaces and private studies, community-wide Wi-Fi, a 24-hour fitness center with cardio and free weights and on-site EV charging kiosks.
Elan Palm Reserve is in a fantastic location close to retail and just minutes from the beach, shopping districts, creative scenes and entertainment options. Neighboring food options include Chick-fil-a and Panda Express. The community is close to I-95, which provides access to other Florida cities including Miami, Fort Lauderdale and West Palm Beach, as well as the West Palm Beach International Airport.
“We are extremely pleased to welcome residents and invite people to come tour Elan Palm Reserve,” Ana Pedrajo, Senior Director of Development, Greystar, said. “The community was designed to provide resort-style living and be a retreat for residents, so they feel that they are always in vacation mode.”

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SAN DIEGO, CA – MG Properties, a leading real estate investment and management company, has completed the acquisition of Park 12 Apartments, a 35-tale high-rise community in downtown San Diego with 43,000 sq.ft. of retail. MG bought the property for $309 million, making it the largest apartment acquisition in San Diego since 2020, and the third largest apartment acquisition in San Diego history. With this acquisition, MG has added 18 properties to their portfolio over the past twelve months, totaling over $2.1 billion.
Built in 2018, Park 12 is located in the Ballpark Village masterplan adjacent to Petco Park, home of the San Diego Padres. The property features panoramic stadium, bay and city views of Downtown San Diego along with on-site restaurants, brewery, and café. With a 97/100 Walkscore, residents have access to The Gaslamp Quarter and the highest concentration of restaurants and retail in the city.
“As a San Diego based company, we are very familiar with the dynamics of the city and believe it has tremendous opportunity for growth in the coming years,” said Jeff Gleiberman, President of MG Properties. “We believe this is an exceptional opportunity to buy one of San Diego’s most iconic properties. This investment is consistent with our strategy of making long-term investments in high quality properties.”
The seller, Greystar, was represented by Joseph Smolen and Geoff Boler with Eastdil Secured. Financing for the transaction was provided by Fannie Mae and arranged by Greg Stampley and Lee Redmond with Eastdil Secured.

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