The 403-unit complex, the largest new rental project to open in months in Orange County, is now open to tenants at the 18-acre development at the intersection of Barranca Parkway and Red Hill Avenue.
The project is where Santa Ana meets Irvine and Tustin, a short walk from the Flight office campus at Tustin Legacy.
The new phase of development follows Broadstone Arden, a 335-unit project that opened last March.
Alliance is set to continue that development push with its third phase of work at the site, the 483-unit Broadstone Atlas, which is currently under construction.
Park & Paseo will total 1,221 units, 18,000 square feet of retail space and 56,000 square feet of office space. The developer paid about $100 million for the land for the Park & Paseo site in a series of transactions starting in 2016.
Located at 1901 E. Dyer Road, Broadstone Archive has a mix of studio, one-, two- and three-bedroom apartments ranging from 598 to 1,470 square feet. Rents range from $1,900 per month for studios to $4,700 per month for large units.
Project amenities include communal and private coworking spaces, a rooftop terrace, a community room with a multi-level bar lounge, Crossfit-style fitness center, basketball courts, a karaoke studio, and a Formula 1 simulator.
Greystar, which operates locally out of Newport Beach, will manage the property.
Local firm Architects Orange designed the five-story Broadstone Archive on behalf of Alliance Residential, a Phoenix-based apartment developer with a sizeable Orange County portfolio.
The two companies also partnered on Alliance’s Broadstone Vilara in Laguna Niguel, a 199-unit mixed-use community that opened in 2019.
Alliance, which builds most of its developments under the Broadstone name, has another local project currently in the works, also in Laguna Niguel.
It acquired a 1.1-acre in the city about a year ago with plans to build a new 111-unit, high-end assisted living facility under the Holden name.
An older, 22,350-square-foot office property is being razed to make way for the building, which will be three stories with subterranean parking and ground-floor retail along Forbes Road.
Alliance has a third project in Laguna Niguel: Broadstone Cavora, a 348-unit project that opened in 2017.
In addition to the Santa Ana and Laguna Niguel projects, Alliance Residential also owns apartment projects in Anaheim, Fullerton, Irvine and Newport Beach.