MBK Real Estate - In the News

PRE-LEASING UNDERWAY AT METRO GATEWAY, FIRST TRANSIT ORIENTED DEVELOPMENT IN THE CITY OF RIVERSIDE

RIVERSIDE, Calif. - MBK Rental Living has commenced pre-leasing at Metro Gateway, the first transit-oriented development in Riverside, Calif. The four-story contemporary collection of 187 for-lease flats and lofts is rising on two parcels totaling 4.26 acres at the gateway to the city, off the 91 Freeway and directly adjacent to the La Sierra Metrolink.

"With decades of experience building top quality shelter for residents in the Inland Empire, we are thrilled to introduce a community that meets the growing need for sustainability-minded, transit-oriented developments within the city of Riverside," said Rick Fletcher, Vice President of Real Estate Operations for MBK Rental Living. "This millennial-targeted apartment community represents an organic lifestyle -- a community dedicated to connected, authentic and conscientious living."

The community, designed by Orange County's Architects Orange, will offer a number of shared amenity spaces and innovative green features, including an automated bike rental station, a bike repair station, solar carports that fuel the electricity in the indoor-outdoor common areas, and electric car charging stations. Drought-tolerant landscaping by Aliso Viejo-based Studio PAD Landscape Architects is slated to include a communal courtyard for social gatherings, artisan workspaces, a state-ofthe- art two-story fitness center and resort-inspired pool and spa area.

The residences at Metro Gateway will be comprised of a mix of openconcept studio lofts, one bedroom and two-bedrooms, with one to two baths, ranging in size from 590 to 1,211 square feet. Units will include carriage-style one-car garages or carports, with some models offering deck or patio options. Standard features will include stainless steel appliances, quartz countertops in kitchens, and contemporary cabinets in the kitchen and baths. The units will also offer energy-efficient features including full-size front-loading GE washers and dryers and energy efficient water heaters. Tech features will include USB charging outlets in the kitchens and flat panel TV connects in the living rooms.

"This is an exciting opportunity to provide a new type of housing for Riverside residents," said City Councilman Chris MacArthur, who represents Ward 5, the area where the development is located. "Tying housing to a commuter rail station, with restaurants and shopping nearby, will allow residents to get out of their cars, use transit and eliminate the need to drive to the Metrolink station."

Metro Gateway is located within the Alvord Unified School District and near regional universities, including California Baptist University, La Sierra University, Riverside City College, California Southern Law School and Kaplan College. The community is also nearby everything Downtown Riverside has to offer, including top shopping, dining, arts and entertainment, as well as conveniently situated near the 215, 91, 10 and 60 freeways.

"The Riverside County Transportation Commission is thrilled for this project, with hopes that it'll encourage more of our community to take advantage of Riverside's growing public transit," said Mark Lancaster, Right of Way manager, Riverside County Transportation Commission. "Plans to expand the metro at that terminal station are currently in the works, making this community a real trophy for the city of Riverside." Pre-leasing is currently underway, with first occupancies slated for July 2017. For more information about the community, please visit www.livemetrogateway.com.

About MBK Rental Living MBK Rental Living is a division of MBK Homes, which is active in the development of for?sale single and multi?family housing communities, rental housing, and apartment property acquisition. Their mission is to provide top quality shelter to residents throughout California with its various housing solutions. MBK Homes has earned a reputation for delivering award-winning customer satisfaction in housing that is innovative in design, comfort, sustainability, and craftsmanship. For the last three years, MBK Homes is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1000, Irvine, CA 92614; phone (949) 789- 8300; or visit the website at www.mbkhomes.com.