Rafferty, located in the heart of historic downtown Santa Ana, California. Rafferty is Santa Ana’s newest mixed-use development, which will comprise two newly constructed buildings with the preservation of parts of the pre-existing building facade, giving homage to the surrounding historic district. Rafferty will bring new retail and dining experiences to the community, offering elevated apartment living to its residents. Rafferty will offer 218 apartments ranging from studio to one- and two-bedroom units, including 328 parking spots. Resident amenities will include a rooftop terrace and lounge, a resort-style swimming pool with grills and fire pits, an expansive fitness center, a clubroom and co-working spaces. As the lender’s representative, VERTEX provides construction monitoring services.
VERTEX is responsible for review of the contractor’s payment applications, hard cost review, construction progress, and adherence to the project schedule and budget, and recommends funding by participating in monthly onsite pencil requisition meetings and site observations, which allows to mitigate risk and leads to a more efficient funding process throughout the lifecycle of the project.