PROJECT OF THE YEAR: RESORT/LUXURY LOW-RISE
Watermarke Apartments and Townhomes De Luxe
When a multifamily developer comes into a new, competitive market, they must build projects that set themselves apart. That’s exactly what Sares-Regis Group and its architect, Meeks + Partners, did with the Watermarke Apartments and Townhomes De Luxe in Irvine.
The apartment landscape in Irvine was dotted with Spanish, Italian, and French architectural themes. But Sares-Regis and its architect wanted to set their property apart. “We wanted the Watermarke to be special,” says Bill Albertson, president of multifamily development for Sares-Regis, based in Irvine, Calif. “We wanted the feel of a big city–like New York or a city in northern Europe–as opposed to the Mediterranean feel you get throughout Irvine.” So they chose a design that is more formal and urban.
Architecture wasn’t the only unique thing about the Watermarke. Most apartments in the Irvine area are based on four-over-two designs, which means they have four floors of apartments over two floors of parking. But these designers decided to build apartments that wrap around the parking. “Rather than having to get to your apartment by elevator, you can park at the level you live on,” Albertson says. “It’s the first project in Irvine with the wrap-around concept.”
Kevin Newman, president and managing partner for Newport Beach, Calif.-based Meeks + Partners, says the wrap-around design also allowed the developers to save about $10 to $15 per foot in construction. They used this money to create 10 floor plans that offered spectacular views and amenity packages that include nine-foot ceilings, granite countertops, wood-style floors, crown molding, two-tone paints schemes, balconies, and patios.
The developers also pushed the garages toward the back of the site and enlarged the courtyards to maximize the views of the nearby San Joaquin Nature Preserve, Santa Ana Mountains, and University of California, Irvine Arboretum. “The floor plan allowed us to create about 90 percent more viewing opportunities,” Newman says.
–L. Shaver
Watermarke Apartments and Townhomes De Luxe
Location: Irvine, Calif; Developer: Sares-Regis Group; Opened: October 2003; Units: 535; Average Rent: $2,500; Unit Mix: One-, two-, and three-bedrooms; Cool Stuff: A junior Olympic pool, on-staff massage therapists, and an aesthetician