June 23, 2016 Comments Off on Kilroy Realty Shrinks Size of 1.1M SF Carmel Valley Development Views: 269 California, California News, San Diego, West

Kilroy Realty Shrinks Size of 1.1M SF Carmel Valley Development

Los Angeles-based Kilroy Realty is downsizing its proposed One Paseo development in San Diego’s Carmel Valley in hopes of securing approvals to start construction. The revised plan for the 24-acre mixed-use project 20 miles north of downtown is nearly 20% smaller and reduces traffic by roughly 44%.

The plan still includes 608 apartments and condominiums, but traffic would be significantly decreased as a result of 61% less retail space and 42% less office space. One Paseo’s total square footage has been reduced from 1.45 million to 1.18 million.

Project density has also been pushed inward – the tallest office towers have shrunk from nine stories to six, and all development will adhere to at least 30-foot set-back requirements.

Read More at San Diego Union-Tribune

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