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8/07/24
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We’ve learned of two permit-ready land development sales in San Diego’s Barrio Logan and North Park urban neighborhoods to share with you. In one deal, a 4.9k sf lot at 1950 Kearney Ave in Barrio Logan traded for $1.35 mil. The site is entitled for 26 multifamily units with an approved design.
1950 Kearny Ave, Barrio Logan. Pic: Architects Local |
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The permit-ready development site and development plan qualify for San Diego’s Complete Communities Housing Solutions (CCHS) program, an affordable housing incentive program allowing more dense housing projects near high-frequency transit. Joe Brady of Urban Property Group (UPG) represented the seller, R Urban OZF 1 LLC. The buyer was One Source Funding LLC.
In the second deal, a 5.6k sf lot located at 3946 Louisiana St in North Park sold for $1.95 mil. The shovel-ready development opportunity is also approved for the CCHS program. UPG’s Brady represented both the seller, LFM Investment Group LLC, and the buyer, 3946 Louisiana Owner LP, in the transaction.
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