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9/29/14
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A venture between Wermers Properties and R&V Management acquired 7.4 acres in Carmel Valley with plans to develop a residential apartment community. The property is located within the Village at Pacific Highlands Ranch, a mixed-use complex with 331 apartment homes and approximately 175k sf of retail and dining space. The seller of the land site is Pacific Highlands Ranch Village, LLC.
Construction on the apartment homes should begin in late 2015 with occupancy targeted for Spring of 2017. In addition to the retail and dining options, apartment residents will have access to ample onsite amenities, including a resort-style pool, spa, pet grooming facilities and a dog walk, tot lot, and a fourth floor roof deck overlooking the pool where residents can take in impressive views of the Santa Monica mountains.
Wermers Properties is a San Diego-based developer that specializes in multifamily apartment homes. The company’s history and experience in the industry spans nearly 60 years. In the 1960s, Wermers built single-family residences in San Diego, and today is involved in some of the largest multi-family projects across California. To date Wermers has developed and constructed more than 40,000 apartment units.
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