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Mission Gorge Rd Redevelopment Project

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Mission Gorge Rd Redevelopment Project NRT San Diego & Riverside LE A 156 S S 249 OR F Transit Oriented Development SiteRT Mike Habib, CCIM Cal RE#00694258 [email protected] Mike Habib & Associates Alice Kulikowski, CCIM 9332 Fuerte Dr. Cal RE# 001786944 La Mesa CA 91945 [email protected] Office: 619-463-6600 Alina Tan, CCIM Cal RE# 01826920 [email protected] 1 Transit Oriented Development Site TRANSIT ORIENTED DEVELOPMENT OPPORTUNITY Development site with near term income This parcel is in the heart of Grantville This property has a two-story office building between San Diego State University (SDSU) and built in 1971 and two commercial billboards. The the future SDSU West Stadium. Grantville is office building is 90% occupied with short term zoned for development as an urban village with leases. 8,000 units. To the south plans are under way for additional housing and a city park amenity connecting the Grantville station connecting to the community. OFFERING Asking Price $2,850,000 Brokerage Co-op at 3% Closing Property in present condition PROPERTY SPECIFICATIONS LOCATION INFORMATION Existing Uses Office Building (two-story) with Frontage Mission Gorge Rd parking Neighborhood Grantville Zoned Use Commercial, Multi Family, Mixed Use: Residential & County San Diego Commercial including Freeway Restaurants and Retail Access Interstate 8 Lot Size 17,338 square feet Transit Grantville Trolley Station Building Size 7,987 square feet Height Limit None Transit Priority No parking required for Area multi - family 2 Transit Oriented Development Site Unit Counts: Number of units possible “by right” • Market Rate – up to 43 units • 50% Affordable – up to 65 units • 80% affordable –up to 77 units • Micro Units – up to 100% bonus Zoning ordinance: San Diego Municipal Code, CC 3-9 Table Land Use: Transit Oriented Development (TOD) Central, urbanized, pedestrian, high density mixed use residential Development Permit-Required: Yes, FEMA 100 Year Flood Zone Uses Permitted: Commercial & Multi-Family Mixed Use 3 Transit Oriented Development Site TROLLEY STATIONS The Grantville station connects commuters to San Diego’s major attractions, universities, colleges, medical facilities and employment centers. The trolley lines share stations with the Coaster and AMTRAK in downtown Santa Fe and Old Town stations and with the MTS rapid transit bus system. Midcoast Line (open 2021) The Midcoast Line In 2021, MTS will open the Midcoast Line extending to the northern coastal areas, UCSD and the large tech employment centers adjacent to the campus and in the Golden Triangle. TRANSIT ORIENTED DEVELOPMENT SITE : 5945 Mission Gorge Road - potential for 77 units 4 Transit Oriented Development Site PROPOSED ALVARADO CREEK PARK In 2017 the Grantville Trolley Alvarado Creek Revitalization Study was completed. The study created a road map to implement a community park connecting Grantville to the trolley station and prevents flooding during peak rains. The proposed City of San Diego park footprint is displayed in the green zone in the schematic to the left. See study: 2017 Grantville Trolley Station/Alvarado Creek Enhancement Study 5 Transit Oriented Development Site TRAFFIC COUNTS (vehicles per day) Mission Gorge Rd 7,075 vehicles Fairmount Ave Fairmount I-8 247,000 vehicles I-8 off Ramp 10,300 vehicles Camino Del Rio N 29,500 vehicles Alvarado Canyon 4,087 vehicles Grantville Trolley Station NEARBY AMENITIES 5945 Mission Gorge Rd, Grantville San Diego CA. Grantville Park Fairmount Ave Fairmount Grantville Trolley Station MIKEHABIB.COM 6 Transit Oriented Development Site NEIGHBORING DEVELOPMENTS Verge GH Palmer The Harlow Hanover MG SDSU West Hanover MV Fairfield “Gravity” Affirmed “Bluewater” SDSU Affirmed Greystar & Affirmed “Zephyr” joint venture TRANSIT ORIENTED DEVELOPMENT SITE : 5901-27 Mission Gorge Road - potential for 439 to 878 units Development units Build year average unit size address Verge 444 2015 985 sf 6850 Mission Gorge Road G. H. Palmer 1,000 2021 mixed 6101-6115 Mission Gorge Rd Hanover - Mission Gorge 374 2018 836 sf 4440 Twain Avenue Hanover - Mission Valley 385 2019 1,055 sf 6161 Fairmont Avenue Affirmed - Bluewater Apt 80 2019 923 sf 6121 Fairmont Avenue Fairfield - Gravity Apt 250 2020 600 sf 4570 Mission Gorge Place The Harlow - mixed use 58 2020 1,680 sf 10222 San Diego Mission Road Greystar (student housing) with Affirmed (affordable housing) 410 2020 TBD 4464 Alvarado Canyon Road SDSU West (stadium redevelopment) 4600 TBD mixed townhomes, mid-rise, high-rise 7 Transit Oriented Development Site WHO LIVES IN THE COMMUNITY? Emerald City’s denizens live in lower-density neighborhoods of urban areas For more information see throughout the country. Young and mobile, they are more likely to rent. Well educated and well employed, Half have a college degree and a links on page 10. professional occupation. Gen Y comes of age: Well-educated young workers, some of whom are still Source: completing their education, are employed in professional/technical occupations, as well as sales and Office/administrative support roles. Residents in this highly mobile and educated market live alone or with a roommate in older apartment buildings and condos located in the urban core of the city. This is one of the fastest growing segments, the popularity of urban life continues to increase for consumers in their late twenties and thirties. 8 Transit Oriented Development Site FREEWAY CORRIDORS and DRIVE TIMES Employment Centers Downtown 15 minutes Mission Valley 11 minutes Mira Mesa 18 minutes Rancho Penasquitos 18 minutes Sorrento Mesa 17 minutes Torrey Pines/UTC 15 minutes Beaches Coronado 19 minutes La Jolla 21 minutes Mission Beach 19 minutes Ocean Beach 15 minutes Pacific Beach 17 minutes Major Universities CSU San Marcos 30 minutes SDSU 8 minutes UCSD 23 minutes USD 12 minutes Point Loma Nazarene 19 minutes Nearby Amenities Mission Trails Park 12 minutes Santee Lakes 15 minutes Entertainment Balboa Park / Zoo 13 minutes Gaslamp Quarter/ Downtown San Diego 13 minutes Lego Land 54 minutes Little Italy 13 minutes Old Town 12 minutes Sea World 15 minutes Tijuana 51 minutes Wild Animal Park 31 minutes TRANSIT ORIENTED DEVELOPMENT SITE : 5945 Mission Gorge Rd, Grantville, San Diego CA 9 Transit Oriented Development Site LINKS DEVELOPER YIELD ANALYSIS FOR ASSEMBLAGE https://mikehabib.com PROPOSED ALVARADO CREEK PARK: Click on: Navajo Community Planning Group page https://www.sandiego.gov/planning/community/profiles/navajo Click on Grantville Trolley Station/Alvarado Creek Enhancement Study DEMOGRAPHICS: ESRI Tapestry Segmentation https://doc.arcgis.com/en/esri-demographics/data/tapestry- segmentation.htm#ESRI_SECTION1_87F5D845F8E04723AE1F4F502FF3B636 GRANTVILLE TROLLEY STATION MTS Transit Map (google): https://www.google.com/maps/d/viewer?mid=1NxEU2yEGgJYURFno6WhQI0iahcA&ll=32. 69848277248259%2C-117.05031062112045&z=12 SDSU MISSION VALLEY CAMPUS EXPANSION http://missionvalley.sdsu.edu/index.html 10 Transit Oriented Development Site For more information, please contact: Mike Habib, CCIM Broker Associate [email protected] Cal RE#00694258 Alice Kulikowski Sales Associate [email protected] Cal RE# 001786944 Alina Tan [email protected] Sales Associate Cal RE# 01826920 Mike Habib & Associates 9332 Fuerte Drive La Mesa CA 91941 Phone: (619) 463-6600 http://mikehabib.com NRT San Diego & Riverside Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates, not employees. ©2019 Coldwell Banker Residential Brokerage. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. 11.
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