Adept Urban Development has secured $107 million in construction financing for its Adept Ontario project, a transformative mixed-use development in Ontario, California. Situated adjacent to the Toyota Arena, the project aims to revitalize the area with a dynamic blend of residential, retail, and entertainment offerings.
Stefen Chraghchian of Marcus & Millichap Capital Corporation arranged the financing, which was co-orchestrated by Affinius Capital and Bank OZK, according to a report in the Commercial Observer. Adept Ontario will feature 384 residential units and 26,000 square feet of ground-floor retail space. It will serve as a cornerstone of a larger master-planned entertainment district along Concours Street. This district is designed to infuse new energy into Ontario, a city of approximately 182,000 residents located 37 miles east of Downtown Los Angeles.
The five-story development will offer studio, one-bedroom, and two-bedroom apartments, catering to diverse residential needs. Residents will enjoy upscale amenities, including two pools, a fitness center, coworking spaces, a clubhouse, a zen garden, and outdoor fire pits, fostering a luxurious and community-oriented living environment.
Affinity Capital Managing Director Tom Burns described the project as a “transformative mixed-use development” and compared its vision to the vibrancy of L.A. Live. Burns emphasized that the $107 million loan reflects his firm’s confidence in Adept Urban Development’s vision and the strength of their collaborative relationship.
The larger Adept Ontario plans encompass four buildings with a total of 694 residential units and approximately 71,200 square feet of commercial space, situated on a 13.3-acre site at 4000 East Ontario Center Parkway, near the Toyota Arena. In October 2023, a modification was proposed to increase the height of Building B from four to five stories, expanding its size from 221,730 to 387,598 square feet and increasing the number of units from 112 to 201. This development is part of Ontario’s broader Arena District initiative, which aims to introduce 700 luxury apartments and 70,000 square feet of commercial space, reinforcing the city’s status as a premier entertainment destination in the Inland Empire.
Adept Ontario, set to be completed in the first half of 2027, aims to establish a live-work-play district that will serve as a focal point for the community. With its proximity to the Toyota Arena and planned retail and dining experiences, the development underscores Ontario’s potential as a growing hub for innovation and lifestyle.
Adept Ontario mixed-use development construction financing
