Wood Partners has started construction on Alta Oceanside, a 309-unit luxury multifamily property in Oceanside, Calif. The city approved the project proposal in May of last year.
The community, which is slated for delivery in late 2023, will occupy 5.3 acres at 1015 N. Coast Highway. The development site is less than a mile from Oceanside’s city center and within walking distance of the beach. Downtown San Diego is 40 miles south via Interstate 5.
The unit mix will have one- to three-bedroom apartments, with floorplans ranging between 608 and 1,338 square feet, city records shows. The property will include 26 affordable units as well as a 5,422-square-foot retail space on the ground floor. Residents will have access to a library with coworking spaces, four courtyards, a gym, a lap pool and a viewing deck on the fifth floor.
The project is set to be the largest multifamily investment west of Interstate 5 in the last 20 years, Wood Partners Vice President of Development Yael Suneson said in prepared remarks.
Wood Partners has been active in Texas this year expanding its portfolio of Alta-branded properties. In January, the company opened Alta Cathedral Lake, a 300-unit community in suburban Houston and kicked off construction on Alta Austin Avenue, a 312-unit Georgetown development. Last month, the developer broke ground on yet another Texas project: a 261-unit multifamily property in Austin.