Petco Park’s $250M Neighbor Nears Construction Start

The end of March saw Civic San Diego approve a development project near Petco Park, with construction set to commence later this month. The Ballpark Village development is one of the city’s largest planned housing projects, and is estimated at around $250 million. JMI Realty, the company responsible for the development of Petco Park, is partnering with Lennar Homes on the development of the master-planned district. Ballpark Village is located in the vicinity of the arena - currently the home of the San Diego Padres - that opened 11 years ago this month.

Construction is scheduled to start April 16 on the $250 Ballpark Village project near Petco Park following approval late last month by Civic San Diego. JMI Realty, Petco Park’s developer, is partnering with Lennar Homes on the master-planned district, one of the largest residential projects of its kind in the city.

Located along Park Boulevard and Imperial Avenue, the project will total 720 residential units divided among a 400-foot-tall tower and three six-story buildings.

Plans also call for 55,000 square feet of ground-floor retail, a parking structure with space for 1,214 vehicles and a pedestrian plaza. The project’s current form follows a number of design changes, notably the addition of 98 apartments.

According to the San Diego Union-Tribune, JMI is set to
to close escrow on its sale of the development site to Greystar and will handle construction of the apartment tower’s parking garage and infrastructure.

The first units will be available for move-in by the third quarter of 2017, and completion is slated for the second quarter of 2018.

Image courtesy of jmirealty.com