RANCHO SANTA FE — Palma de la Reina has recently announced that the construction of its 54 luxury rental apartments is underway in Rancho Santa Fe. Located off of Via de la Valle at the entrances of Whispering Palms and the Morgan Run Resort and Golf Club, the vision of Palma de la Reina has been executed in phases.
The property is zoned as a mixed-use complex.
The developer and owner of Palma de la Reina, Newport Pacific, Inc., has indicated that this is the last component of the Whispering Palms master plan. Whispering Palms has a longstanding history. It was drafted in 1962 by Newport Pacific with its first finished homes listed for sale in 1965.
Decades later, Palma de la Reina is taking shape.
“I believe that Palma de la Reina will make life easier for residents of Whispering Palms and the surrounding neighborhoods by providing community-serving retail, and an opportunity to work closer to home, something they’ve never really had before,” said Richard Cavanaugh, president and CEO of Newport Pacific, Inc.
Cavanaugh went on to say that the other unique offering at Palma de la Reina is its new enclave of 54 brand new luxury residential rental properties in a prestigious location.
According to Jan Percival, spokesperson for Newport Pacific Inc., these properties will range from 1,000 to 1,100 square feet.
“Architecture is by Jon Ebert, the original designer of Whispering Palms and features an Italian Renaissance styling with a light art deco color palette, similar to the adjoining retail and office buildings,” she said. “A common area features a pool, spa and pool house.”
The new residences are a component of Palma de la Reina.
Cavanaugh pointed out that the project site also includes 21,050 square feet of Class A commercial office and roughly 10,360 square feet of retail space.
The retail and commercial areas, which will be completed by late summer, will afford residents with diverse options.
“The retail building will feature local merchants, including GYROTONIC Rancho Santa Fe, Salon Draven, Whispering Palms Cleaners, and My Brighter Side, a store that offers products for female cancer patients,” Percival said. She added, “Both the retail and commercial office complex are nearing completion.”
The luxury apartments are expected to be finished toward the end of 2016 and are readying for a debut.
“We are so proud to be nearing completion of this final piece of the Palma de la Reina mixed-use center,” Cavanaugh said.