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2/18/16
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Wood Partners has acquired a multifamily development site in San Diego for $15 mil in an off-market transaction. The property is located at 1919 Pacific Hwy, directly across from the new Waterfront Park and just blocks to the restaurants and shops on India St and Kettner Blvd.
The buyer plans to develop an eight-story, 110-unit luxury apartment project with unobstructed views of the San Diego Bay. 1919 Pacific Highway will feature a mix of studios, one-bedroom, and two-bedroom units, designed by Carrier Johnson + Culture Architects.
Victor Krebs of Colliers represented the buyer and the seller, Thomas Chen Associates.
“Little Italy is a vibrant neighborhood that continues to attract top local and national developers based on the strong demand for luxury apartments and condominiums,” said Krebs, Senior Vice President at Colliers International, “1919 Pacific Highway’s location is unique in that it will have unobstructed views of San Diego Bay and the Waterfront Park for generations.”
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