Legacy Partners, a privately held national real estate firm, partnered with DWS Group, a leading global asset manager, to announce the start of construction for a 346-unit residence apartment community in Ontario, California.
Legacy Partners will host an official groundbreaking ceremony on-site on Thursday, Jan. 16 at 1 p.m.
Located at 2510 S. Euclid Ave. in Ontario, the new community will consist of eight buildings (three to four stories tall) with tucked-under garage parking and covered carports. The residences will also include 6,000 square feet of ground floor retail space facing Euclid. Construction is anticipated to be completed in April 2027, with Next Phase serving as the general contractor.
“Our goal for this project was to create an elevated suburban garden product located in the heart of the Inland Empire,” said Tim O’Brien, senior managing director for Southern California and the Southwest Region at Legacy Partners. “The Legacy Ontario development will be convenient to everything Ontario offers with easy connections to the rest of Greater Los Angeles and beyond.”
“This development opportunity aligns with our strategy of investing in best-in-class residential projects in submarkets with strong fundamentals,” said Michael J. Nigro, chief investment officer and head of value add & development for DWS. “This also builds on our programmatic relationship with Legacy to deliver build-to-core assets on behalf of our investors.”
Designed in 1892 to serve as the “stately backbone” of Ontario, Euclid Avenue’s median is preserved at 60 feet wide. Furthermore, in honor of its grand design and early history, Euclid Avenue was placed on the National Register of Historic Places in 2005. In addition to being situated on the city’s most notable thoroughfare, Legacy Ontario will be only minutes away from both the Upland Metrolink station and the Ontario International Airport.
Designed by Architects Orange, the community’s mix of 346 studio, one-, and two-bedroom apartment homes will range from 706 to 1,293 square feet. The units feature modern kitchens with stainless steel appliances, tiled backsplashes, large kitchen islands (in many units), wood-style flooring, and full-size washers and dryers. Each home will be equipped with either a patio or large deck.
The project’s amenities will include a roof deck, clubhouse, pool/spa, fitness center, sports lounge, multiple barbecue areas, and a dog run. The development is pursuing LEED certification and will provide solar panels with battery storage and 171 EV charging stations.
“This marks our third active development project in partnership with DWS,” added O’Brien. “We are also breaking ground this month on a project in Scottsdale, Arizona, and plan to break ground early next year on a development in Torrance.”
About Legacy Partners
Legacy Partners (Legacy), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops, and manages multifamily communities throughout the United States. Since its inception, the company has developed or acquired more than 80,000 apartment homes at more than $8.5 billion in cost. Legacy has regional offices in California, Colorado, Florida, Georgia, Texas, and Washington, and has developed more than 68,000 apartment homes in Arizona, California, Colorado, Florida, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently delivering exceptional results. Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of more than 50 multifamily communities with almost 12,000 apartment homes, and with a gross value in excess of $3 billion. For further information, please visit www.legacypartners.com
About DWS
DWS Group (DWS) with EUR 963bn of assets under management (as of 30 September 2024) aspires to be one of the world’s leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes. Our diverse expertise in Active, Passive and Alternatives asset management complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.
DWS wants to innovate and shape the future of investing. We understand that, both as a corporation as well as a trusted advisor to our clients, we have an important role in helping to navigate the transition to a more sustainable future. With approximately 4,700 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can meet with their investment objectives. With our entrepreneurial, collaborative spirit, we aim to deliver outstanding investment results and to build the best foundation for our clients’ financial future.
