September 12, 2019
A veteran team of land and multifamily specialists is playing an integral role in boosting San Diego’s new multifamily housing stock. The Cushman & Wakefield team, which includes Tim Winslow, Jason Kimmel, Kevin Nolen and Kacey Cook, has recently negotiated or is actively negotiating the sale of dozens of land/commercial sites across San Diego that, combined, would result in the development of 5,253 new residential units, most of which are planned as for-rent apartments.
There were 4,243 apartment construction starts/completions in the San Diego market during 2018, according to Yardi Matrix. Helping to fuel the flurry of activity is the city’s efforts to streamline the development process, increase a density bonus program, and work to increase height limits around transit stations.
Winslow (pictured above) says, “Housing relief may finally be on the way thanks to efforts from everyone involved in these processes—from city officials to developers and those in between—and the region is now headed in the right direction.”
The developable land/commercial sites involving Cushman & Wakefield include Downtown (2,029 units), East Mission Valley (996 units), College Area (321 units), Kearny Mesa (309 units), Hillcrest (150 units) and Coronado (20 units). San Diego site sales already in the early stages of development include 1,503 units of new residential projects.
For comments, questions or concerns, please contact Dennis Kaiser