Waiting List Placements May Violate ADA

(RECAP: Being on a waiting list for community-based services may be evidence enough that an individual with developmental disabilities is at risk for institutionalization in violation of the Americans with Disabilities Act, according to the U.S. Department of Justice. In a statement of interest filed this month, the Justice Department said that if individuals with developmental disabilities are not receiving services in the community, they may have a claim that their rights have been violated. “Non-institutionalized individuals with disabilities who are not currently receiving state-funded home- and community-based services may bring a claim that a public entity has placed them at risk of institutionalization or segregation in violation of the ‘integration mandate’ of Title II of the Americans with Disabilities Act,” the federal filing indicates.)

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Kennedy Wilson Acquires 157-Unit Multifamily Community in Los Angeles Suburb for $61 Million

BEVERLY HILLS, CA – Global real estate investment company Kennedy Wilson announced that the company bought The Townhomes at Lost Canyon, a 157-unit multifamily community in Santa Clarita, California for $61 million. The company invested $19 million of equity (inclusive of closing costs) and secured a 10-year fixed rate loan of $43 million through Fannie Mae at 3.63% to buy this wholly-owned property.

“We are excited to expand our presence in the greater Los Angeles area with another high quality asset,” said Nicholas Bridges, Managing Director of Kennedy Wilson Multifamily Investments. “We believe this community will attract those who want access to LA’s jobs and amenities but who also desire an outstanding public school system and a high quality of life.”

The Townhomes at Lost Canyon is a class-A apartment community located in Santa Clarita, CA. Situated on 12.5 acres, the property was built in 2013 and is entirely comprised of 3 bed, 2.5 bath townhomes featuring high-end condominium-level specs and all with two-car, direct access garages. Best-in-class amenities at the property include a swimming pool and spa, fully equipped fitness center, enclosed dog park, and a kid’s playground. The Santa Clarita Valley is a thriving center for high-paying industry clusters such as advanced manufacturing, medical devices, aerospace and defense, information technology, and digital media and entertainment.

Kennedy Wilson’s global apartment portfolio includes 133 communities with approximately 26,000 units, including 25 communities and 8,808 units in which the company has an approximate 99% ownership interest.

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Trumark Urban Experiences Strong Demand for Its Latest Condominium Project in San Francisco

SAN FRANCISCO, CA – Just a few weeks after the official launch of sales for the tower residences within The Pacific,  developer Trumark Urban announced that the building has completely sold-out its phase one offering, surpassing $120M in sales. Prompted by the unequivocal demand for the first newly constructed condo residences in San Francisco’s Pacific Heights neighborhood in decades, the team will release and accept offers on the second phase of residences ahead of schedule on September 6.

“After working for so many years on a building with no parallel or precedence, it is very encouraging to see such a strong reception by the market,” said Arden Hearing, Managing Director for Trumark Urban. “The feedback and sales interest in our first phase of residences at The Pacific has exceeded our expectations.”

Beyond the mold-shattering architecture and bespoke interior design by Glenn Rescalvo at Handel Architects, the collaboration with Jay Jeffers on model residences, the intimate art installation from Helen Amy Murray and the collection of five-star service and amenities, the most significant asset this building has is the address itself.  

Sales for the building’s 66 residences, led by West Coast sales and marketing firm Polaris Pacific, include an array of one-, two- and three-bedrooms flats and three-level townhomes each featuring distinctive entertaining spaces, chef’s kitchens, up to 11-ft ceiling heights and floor-to-ceiling windows with picturesque views of San Francisco that span from the Bay, the Golden Gate Bridge, the Presidio, the Marin Headlands, Tiburon and Sausalito, to the Island of Belvedere.

Unique to the residences at The Pacific is the Penthouse Collection, already over one-third sold. The Collection includes an offering of seven penthouses ranging up to approximately 3,073 square feet and four Grand Penthouses with private, expansive wrap-around terraces ranging up to approximately 4,048 square feet. Significant sales interest has also been bolstered by The Pacific’s Broker Advisory Board, a partnership with some of the city’s top luxury brokers to help shape the project from conception.

“The understated elegance of The Pacific has been thoughtfully curated from start to end,” said Mark Higgins, Senior Vice President of Sales and Marketing at Trumark Urban. “There is no other residential condo offering of The Pacific’s caliber available in the Pacific Heights neighborhood, San Francisco, or the country.”

The Pacific will offer a full range of amenities including private vehicle valet, full service concierge, lobby attendant, a private Observatory Lounge overlooking the Bay and Golden Gate Bridge, a private guest residence called “The Fillmore”, and a world class fitness center.  Nestled next door to Fillmore Street, with the urban conveniences of high-end retail, Michelin-star restaurants and activities, owners at The Pacific will want-for-nothing at this cosmopolitan refuge.

Pricing for the wide range of residences will start from under $2 million and range up to $18 million. Private tours for interested parties are available now. Go-ins are anticipated to start immediately.

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