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Downtown Affordable Project Secures Financing, Breaks Ground

27 Mar 2015, 2:28 am

By Alex Girda, Associate Editor

A $79.3 million affordable housing project in downtown San Diego is moving forward. Wakeland Housing and Development Corp. recently closed on a $52 million construction loan from U.S. Bank, edging the Atmosphere affordable housing development closer to reality. The 205-unit project broke ground on March 24th in downtown San Diego, and is slated for a February 2017 completion.

Taking shape on the site of several previously proposed projects, the 12-story development will provide 51 units for formerly homeless individuals, who will also receive access to on-site learning services, professional workforce training and literacy workshops. The Atmosphere will also provide ground-floor commercial space designated for a retail store or café.

Units at Atmosphere will be available to residents earning between 30 and 60 percent of the area median income. Floor plans will include studios, one-, two- and three-bedroom units, with monthly rents ranging between $394 and $1,191. Contracting duties will be handled by Suffolk Construction of Boston, while Joseph Wong Design Associates is the architect.

During construction, the financing will be partly replaced with a $44 million tax credit equity investment through its community development subsidiary, U.S. Bancorp Community Development Corp. The full financing package also includes funds provided by the San Diego Housing Commission, Civic San Diego—the successor to the city’s redevelopment agency–and the Mental Health Services Act program of the California Housing Finance Agency.



Net-Zero Classrooms Garner USGBC Award

22 Mar 2015, 7:22 pm

By Alex Girda, Associate Editor

The U.S. Green Building Council’s California Central Coast Chapter recently gave its Green School Award to a $2 million net-zero modular project that replaced aging classrooms in the Oak Park Unified School District.

Balfour Beatty Construction, the general contractor, assembled seven 960-square-foot classrooms at Oak Park High School, replacing six quarter century-old temporary structures. Built over a 90-day period last summer, the classrooms were constructed with repurposed shipping containers produced by GrowthPoint Structures. KPI Architects acted as project designer.

Balfour Beatty saved 115 tons of landfill waste by reclaiming 85 percent of the material used in construction. Full LED lighting, ductless HVAC systems, floor-to-ceiling windows and solar panels were installed. Balfour Beatty also provided master-planning, pre-construction and construction management services.

As a bonus educational feature, each container comes with a permanent tag detailing its travels, noted Brian Cahill, president of Balfour Beatty Construction’s southwest division. The project was funded by the Oak Park Measure R School Improvement Bond program passed in 2008.

 



Scripps Opens $456M Heart Center in La Jolla

12 Mar 2015, 2:48 pm

By Alex Girda, Associate Editor

The $456 million Prebys Cardiovascular Institute was recently completed on the campus of the Scripps Memorial Hospital La Jolla in San Diego.

Named for the facility’s founding donor, the philanthropist Conrad Prebys,  the facility is part of Scripps Health’s 25-year master plan for the campus. The seven-story, 383,000-square foot facility at 9888 Genesee Ave. will include 59 beds on two ICU levels, 108 beds on three medical surgical levels, six state-of-the-art cardiovascular and two hybrid operating rooms and three catheterization labs.

HOK designed a steel-framed structure with brick, window curtainwall and exterior cream-colored metal panel systems.

Sophisticated high-tech systems include computerized room-level observation stations, a decentralized medication dispensing process and decentralized nurse stations.

Jacobs Engineering Group Inc. handled construction management duties. McCarthy Building Companies Inc. served as the general contractor, KPFF Inc. was the structural and civil engineer, exp was the mechanical, electrical and plumbing engineer and MWPA was the landscape architect.

Images courtesy of mccarthy.com



Richman Gets Green Light for High-End Downtown Project

5 Mar 2015, 7:04 pm

By Alex Girda, Associate Editor

After winning the nod from San Diego’s redevelopment agency, the Richman Group of California L.L.C. plans to launch construction early next year on a 99-unit downtown luxury apartment complex. Known as F11, the project marks the third for The Richman Group Development Corp.’s new California affiliate.

Located on the north side of F Street between 11th Avenue and Park Boulevard, F11 will comprise three seven-story towers situated around a pool and plaza. Residences will include 37 studios, 11 one-bedroom apartments and 51 two-bedroom units. The complex will also contain 5,644 square feet of commercial space. Amenities will include a pool, exercise facilities and bowling alley.

Richman added in a statement that it is teaming up on the project with Shearn Platt, an investor and retired attorney. F11′s design team includes Nexus Planning Consultants of San Diego, architects DesignARC of Los Angeles, and landscape architects Wimmer Yamada and Caughey of San Diego. Civic San Diego, the city’s redevelopment agency, approved the project during the last week of February.

Since its debut last year, Richman’s California affiliate has created a $150 million development pipeline. Also in the works are a 95-unit affordable senior housing community in Fullerton, on track for completion in the spring of 2016, and a 132-unit high-end multifamily project in Cerritos, scheduled to break ground this year.

Image courtesy of therichmangroup.com



Sempra’s HQ Scores $30M in Financing

26 Feb 2015, 3:54 pm

By Alex Girda, Associate Editor

Shapery Enterprises has secured $30 million in financing for Sempra Energy’s headquarters in downtown San Diego. Shapery’s affiliate, The Gas & Electric Headquarters Building–San Diego L.P., received the loan for 101 Ash St., a 347,087-square-foot office tower. A team from HFF arranged the financing, led by Tim Wright, a senior managing director, and Zack Holderman, a director at the firm.

Located in the Broadway Corridor, 101 Ash is near the Civic Center, Little Italy and the Gaslamp District. Interstate 5 is also close by, and the 21-story building offers views of the San Diego Bay, downtown, Coronado Island, Balboa Park and the Pacific Ocean.

The combination of a well-maintained property and a willing sponsorship team enabled HFF to “successfully structure a loan that both addressed the looming lease expiration and the long-term strategic repositioning plan for the asset,” Holderman said in a statement.

Sempra, the parent of San Diego Gas & Electric Co. and Southern California Gas Co., is 101 Ash’s sole tenant. Shapery plans to reposition the property after Sempra’s lease expires in mid-2015.

Image courtesy of Wikipedia via user Nehrams2020







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