Fully entitled, The Ivy is anticipated to consist of 127 new residential units comprising studio-, one- and two-bedroom units, plus basement and main level parking.
MAAC Ivy LLC acquired the entitled 1-acre site desirably located in the city’s historic district from Touchstone MF Fund I LLC. Matt Davis and Terry Jackson of Cushman & Wakefield’s Land Advisory Group in San Diego represented the seller in the transaction.
Kerry Garza, Touchstone MF Fund, said, “Four years ago we created a bold vision to help revitalize downtown Escondido by bringing much needed housing. We worked diligently with City of Escondido to create a welcomed addition to the downtown residential inventory and are excited to now see it completed through the intended efforts of the Buyer.”
Located at 343 E. 2nd Avenue, the new multifamily project will offer many on-site amenities, plus views of the city. The location is also within walking distance to many local amenities and public transportation services. It is just mile and a half from Interstate 15, with major employment centers also just a short commute.