The permit-ready development site and development plan qualify for San Diego’s Complete Communities Housing Solutions (CCHS) program, an affordable housing incentive program allowing more dense housing projects near high-frequency transit. Joe Brady of Urban Property Group (UPG) represented the seller, R Urban OZF 1 LLC. The buyer was One Source Funding LLC.
In one deal, a 4.9k sf lot at 1950 Kearney Avenue in Barrio Logan traded for $1.35 million. The site is entitled for 26 multifamily units with an approved design.
Housing Solutions includes incentives aimed at encouraging the building of homes near high-frequency transit. The focus is intended to create a variety of housing options for everyone, particularly those at low and middle-income levels. These incentives include investments in neighborhood amenities, such as pocket parks and plazas, as well as the preservation of existing affordable housing units.
UPG provides unsurpassed leasing, sales, and advisory services to owners, investors, developers, and tenants. We’re neighborhood experts from Downtown/Central San Diego to North County coastal. We understand the neighborhood dynamics that we work and live in and maintain close relationships with clients and tenants to create multi-dimensional communities. We offer more exact results to our clients by allowing our professionals to focus on their individual areas of expertise and unique neighborhoods. We also maintain a dedicated analyst and support system specific to urban commercial assets from retail to office and multifamily.
