Despite depressed housing conditions, closed retail spaces, and a lagging job market, McMillin Cos. stepped up its drive Wednesday to get started on a massive, $4 billion, mixed-use project in Otay Ranch, which it is dubbing “Millenia.”
Company executives unveiled a marketing campaign at a VIP reception aimed at interesting investors and piquing the interest of potential buyers, office users and retail tenants three years down the road.
Todd Galarneau, vice president of project management, said the project will not break ground until McMillin secures equity partners and construction financing, but he said that could happen within the next six months, leading to the first home sales in early 2012.
Read the entire article.