Real estate investment firm Kennedy Wilson has signed a long-term ground lease for a 32-acre land parcel in Camarillo, California, on which it plans to build a new mixed-residential community with a total of 589 apartments, single-family townhomes, and subsidized senior housing.

The deal builds on Kennedy Wilson’s ongoing seven-year partnership with California State University, Channel Islands, which owns the development land. The investor had originally acquired an existing 386-unit apartment community and 15,000 square feet of retail from CSUCI in 2016, and has invested approximately $8 million to improve its interiors and amenities.

The soon-to-be named project will offer a total of 310 market-rate apartments, 109 for-sale townhomes, and 170 income-restricted apartments for seniors, as well as community-serving amenities. The site adjoins the CSUCI campus at the western edge of the Santa Monica Mountains.

Read More