Mark Development is proposing a new development partnership and a series of changes to its Riverside project, including converting one of the planned residential buildings to senior housing, reducing the project’s overall number of apartments, and shortening the height of its main parking garage.
The changes were presented August 6 to the Riverside Liaison Committee as Mark Development works to secure financing and move the long-delayed project toward construction.
Under the proposed restructuring, Mark Development would partner with Greystar and Harbert South Bay, with the three companies dividing ownership and development responsibilities among the project’s six buildings…