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December 15, 2018
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Santa Clarita Mixed-Use Project Gets Underway with $20 Mil Construction Loan

12/12/17

Serrano Development Group has started work on Newhall Crossings, a mixed-use project with 47 apartment units and 20.2k sf of retail space in Santa Clarita. The project will anchor a significant redevelopment in historic Old Town Newhall, a walkable downtown district with plentiful dining and shopping opportunities in burgeoning Santa Clarita Valley.

Located at the intersection of Main St and Lyons Ave, Newhall Crossings will consist of 47 res units over 20k sf of ground floor restaurant/retail and one level of subterranean parking. The immediate area is served by a nearby Metrolink station.

The project is part of a larger adjacent development that includes a seven-screen Laemmle Theatre, a portion that will be completed within the same timeframe as Newhall Crossings. The adjacent development also includes a five-story parking garage scheduled for completion in the spring of 2018.

Designed by WHA Architects, Newhall Crossings will feature a central public plaza that will be adjacent to the mixed‐use building. Pacific Empire Builders is the general contractor.

Construction is being financed with a $20.8 mil loan arranged by Brian Halpern and Alex Kane at Jones Lang LaSalle and funded through Buchanan Street Partners. The financing is a 77% loan-to-cost, non-recourse construction loan.







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