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New-Home Developments Opening Around the County

A handful of San Diego developers are in various stages of new residential projects throughout the county, making this a busy summer season so far. Here’s a sampling.

Barratt American’s $25 million Aragon, consisting of Mediterranean-styled three-story townhomes in downtown La Mesa, recently debuted, heralding the company’s first urban renewal project in the city.

Aragon, designed to revitalize La Mesa’s historic district, is billed as a good example of smart growth, the live/work/play strategy of locating homes, jobs and retail services near each other, reducing freeway congestion.

The project sits on 1 & #733;-acres, replacing a trailer park and abandoned retail center. Located above underground parking at the corner of El Cajon Boulevard and Maple Street, Aragon includes 52 attached homes, and includes six live/work units with retail space on the ground floor. The 1,031- to 1,700-square-foot homes are priced from the mid-$400,000s.

As another example of smart growth, John Laing Homes has announced St. Cloud, 397 attached homes in Oceanside, within walking distance to the 400-acre Ocean Ranch Corporate Centre , expected to provide more than 4,000 new jobs.

The $180 million St. Cloud features three neighborhoods , Tremont, San Luis and Palomar , and is expected to generate, in property and sales taxes alone, about $358,000 in 2009, and more than $1.3 million in state-mandated school fees for the Oceanside Unified School District.

The model home grand opening is set for late 2006 or early 2007.

Davidson has announced plans for Scripps Preserve, a new luxury neighborhood slated for the master-planned community of the Estates at StoneBridge in Scripps Ranch.

Construction on the homes, which start in the high $1.2 millions, is under way, and previewing was set to begin July 29, with a model home grand opening in the fall.

Presales are under way at Jacaranda, a new neighborhood of two-story, single-family homes by McMillin Homes in the master-planned community of McMillin Lomas Verdes in Chula Vista. Also in Chula Vista, and recently released, is the first phase of Brookfield Homes’ single-family detached homes at Trellis, the newest addition to the Windingwalk community.

In Carmel Valley, phase four of Andalucia Townhomes, a condo community priced from the low $500,000s, is opening and nearly one-third sold out, according to the developer, J & M; Reality Co. in Santa Ana.

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Going Up:

Ground has been broken on phase one of the Maggio Industrial Center project, located six miles east of Calexio at the new commercial Port of Entry in Imperial County.

The center is the first of six phases planned by San Diego-based P3E, LLC, and IPED, a San Diego-based development company, to develop commercial, retail and industrial space on 600 acres of land at the Gateway to the Americas at the U.S./Mexico border. IPED owns an interest in P3E, as well as the remainder of the land slated for development.

When completed, the center will include 570,000 square feet of light industrial and distribution space.

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Big Deals:

McCarthy Building Cos. Inc.’s San Diego division has been awarded a contract by the Rady Children’s Hospital and Health Center to provide construction management and general consulting services for a new $25.7 million, 332,279-square-foot parking structure.

Located at 3065 Children’s Way in San Diego, the parking structure will accommodate 1,051 vehicles on five levels and feature a top-level podium for the future construction of a Ronald McDonald House. Construction is scheduled to begin this month, with completion scheduled for fall 2007.

McCarthy also is performing preconstruction services for the hospital’s proposed $260 million, 279,000-square-foot Acute Care Pavilion at the Kearny Mesa campus. Construction is expected to begin in the fall of 2007, with completion scheduled for the spring of 2010.

Faris Lee Investments, a nationwide retail specialist, has completed the $15.1 million sale of Eastlake Medical/Professional Building on Otay Lakes Road in Eastlake, a master-planned community in Chula Vista.

Jeff Conover and Richard Walter of Faris Lee Investments represented the seller, Irvine-based Triad Village West LP. The buyer is a private investor based in Pleasanton.

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Kudos:

Carlsbad-based Helmets to Hardhats, which helps military personnel find careers in the construction industry, was commended by Gov. Arnold Schwarzenegger on July 20.

“By helping the Helmets to Hardhats program, we are helping our returning veterans find high-quality careers,” he said.

According to newly released figures, more than 16,000 military candidates have registered in California for the program, and 1,482 employers and local trade unions have posted 3,356 career opportunities on the Helmets to Hardhats Web site.


Send residential and commercial real estate news to

pbroderick@sdbj.com

or via fax at (858) 571-3628.

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