Pacific Village is a partnership between Lennar Homes and Atlantic Pacific Companies, two respected names in housing with long track records for delivering high-quality projects that meet the needs of communities.
01 The Opportunity
Pacific Village is a partnership between Lennar Homes and Atlantic Pacific Companies, two respected names in housing with long track records for delivering high-quality projects that meet the needs of communities. Atlantic Pacific has managed the site’s existing apartment complex for more than 40 years. The partnership will be completely demolishing the existing apartment structures which have significant infrastructure challenges and are in need of replacement. The multi-phase development began demolition in late 2018, with an estimated completion in 2020.
02 The Results
Pacific Village will help tackle the housing crisis San Diego currently faces and create home owning opportunities for everyday San Diegans, while delivering a number of benefits to the community,” said Kevin Nolen, “This new community will be nearly doubling the moderately-priced housing on the site from 332 to 601, allowing for working families such as police, nurses, firefighters, service members and teachers to own homes in the community they serve, while also offering mortgage and lending options with a wide variety of programs for first-time home buyers.
Meet the Team
Greystar GP II LLC • Urban Residential
Greystar GP II, LLC acquired and will supply the seller with improved office space, designated parking stalls to support the cathedral’s ministry and developing a new high rise apartment community.
KT Urban and Maxxum Development • Urban Residential
This parcel was owned by two entities in a partnership that had no issue resolution or a buy/sell agreement built into the partnership.