By: Blake Sonuga | March 4, 2019, 12:20 am PST.
Real estate developments in Downtown San Diego are reaching an almost fully saturated point but, one of the last full block mixed-use developments is taking form on the entire block where C, 7th, Broadway and 8th borders.
The Full Block
The original developer, Zephyr intended the project to have 498 dwelling units where there were 0 studios, 111 one-bedroom, 326 two-bedroom, and 61 three-bedroom units. However, on December 10, 2015, the current owner/ developer, Bosa Development acquired the property from Zephyr for $33M and has revamped plans for the buildings. This project will be Bosa’s first apartment project in the city.
Currently, under construction, the completed project will comprise of a 41 story tower on the southwest corner of the block reaching 440 ft in height and making it one of the tallest residential highrises downtown. A 21 story tower reaching 220 ft in height will be at the northeast corner and both towers share a 6 level low-rise podium. The low-rise podium will comprise of 3 levels of subterranean and above grade parking for a total of 743 parking spaces and 17,400 SF commercial space.
Both towers and part of the low-rise podium will have a total of 620 dwelling units of which there will be 81 studios, 255 one-bedroom, 284 two-bedroom, and 0 three-bedroom units.
The Community Amenities
The resort-style amenity space currently under construction for this project is a 27,000 SF amenity deck atop the 6 level podium dubbed, “The Sky Garden”. The sky garden will consist of shared outdoor space with extensive landscaping designed to protect users from wind and street noise. In addition, a swimming pool, a 300 SF pet space, and bbq area will be constructed in the sky garden.
Building Specifications and Figures:
1 swimming pool
21 story tower 1 (220 ft.)
41 story tower 2 (440 ft.)
49,000 SF. commercial space
620 residential units
7th-floor sky garden
743 parking spaces
$200,000,000.00 approximate cost to develop
Current status: Under construction, estimated completion, 2020
Owner/Developer: Bosa Development
Project address: 702 Broadway
Architect: Joseph Wong Design Associates
Landscape architect: Lifescapes International
Downtown neighborhood: East Village
Project name: Park 12 – The Collection
General contractor: ParkWest General Contractors
Market: Mixed-use development (Multifamily residential and commercial)
Approximately 642 construction jobs and 108 permanent jobs created.
Downtown public facilities financing plan: $5,171,347 development impact fees. Funding share for new parks, fire station, and traffic circulation improvement in downtown.