After six years of planning, the developer of Calabasas’s first market-rate, seniors-only luxury apartment and condominium community is ready to begin construction.
The city approved the 98,500-square-foot development in 2006. The project will be built on a vacant 2.7-acre parcel with an unused asphalt parking lot at 26705 Malibu Hills Road.
Progress for the development was stalled when the economy tanked.
“But with the renewal of the real estate market, we were able to successfully obtain construction funding, and we are days away from pulling permits,” said Dan Zaharoni of Zaharoni Industries, who manages the development for the landowners, 26705 Malibu Hills Road LLC.
“This exclusive community is the first of its kind in Calabasas dedicated to people 55 and over. Concierge services providing maid, grocery pickup, activities and transportation will be available to residents,” Zaharoni said.
The three-story building will have 57 two-bedroom units and three one-bedroom units, with subterranean parking, a center courtyard, a pool and spa. The development will include an adjacent clubhouse with a fitness center and space for community activities for residents.
The entire building will be handicapped-accessible, with elevators connecting all floors and the underground parking facility.
“ We’re hoping to break ground this month,” Zaharoni said. Construction of the Spanish colonial-style building is anticipated to be completed by the end of summer 2013.
The project is at the eastern end of Malibu Hills Road and neighbors commercial properties and Steeplechase townhomes.
Earlier members of the Steeplechase Homeowners Association had expressed concerns about the proximity and height of the proposed development.
“Our concern at that time was the size of the building in terms of its height. So people in the higher floors would look right down over into our complex,” said Dale Reicheneder, former vice president of Steeplechase Homeowners Association.
Zaharoni said a new larger wall will be built between the two residential communities to satisfy the city’s requirement regarding Steeplechase’s concerns.
Calabasas Mayor Mary Sue Maurer said the market- rate condominium will allow the city to meet the needs of local seniors who want to downsize but stay in the community.
“There is a demand for highquality senior housing options in our community. Our city set a goal to create recreational and social programs for seniors and provide housing options,” she said.
“This project is clearly another indicator that our local economy is starting to turn around,” Maurer said.
The Horizons at Calabasas is accepting reservations to lease and purchase the units.
The company’s website is www.horizons55.com.