Nexus Cos. has started construction on a two-tower, $350 million condominium project in Santa Ana.
The two 25-story buildings stand to be the tallest residential buildings in the John Wayne Airport region, topping out at slightly less than 310 feet.
The Santa Ana project, called Skyline at MacArthur Place, is the tallest residential development that’s been approved for construction in Orange County.
Lennar Corp. is planning high-rise condo towers in Anaheim’s Platinum Triangle that are set to be higher than Skyline.
The 349-condo project is set for completion by early 2008. Sales will begin later this summer, with condos going from the high $500,000s to about $1.5 million, said Cory Alder, president of Santa Ana-based Nexus.
Nexus is handling both the development and construction of the towers.
The properties are being built among existing office towers and retail space at Santa Ana’s Hutton Centre.
The complex, next to title insurer First American Corp.’s headquarters along the Costa Mesa (55) Freeway, is being renamed MacArthur Place.
Nexus, a longtime area developer led by Chief Executive Curtis Olson, is spending about $9 million for street work, parking, school investment and other improvements in the area.
Nexus’ development is the first of about 1,000 high-rise units envisioned for Santa Ana. Mayor Miguel Pulido is a big proponent of high-rise housing, and first recommended Nexus take on the project, Alder said.
The project has been in the works for about three years.
Nexus is building a new office adjacent to the towers, along with low-rise lofts. A third 25-story tower also could be built by Nexus nearby, as well as some homes.
