SAN DIEGO – A housing developer that was founded in New York has moved its headquarters to San Diego and already has four apartment projects under construction or planned, the first of which is a 69-apartment building in Hillcrest.
After surveying the nation, Gilad Tamir and Adam Greenberg, managing partners of Greenline Development Group, said that they decided that San Diego was a prime spot for their business because of the shortage of housing and the region’s strong economy.
Managing Partner
Greenline Development Group
“We think, with the positive migration that San Diego has, and as it remains unaffordable to buy a house, people are going to continue renting and rents will continue growing at a modest pace,” Greenberg said. “We focus on neighborhoods that are in high demand and walkable to both public transportation and employment centers and have room to grow. We focus on building high-end products but not a luxury product, usually for young professionals, usually between 25 and 40.”
Tamir said that he and Greenberg were drawn to Hillcrest for their first project because, “We view this location as very walkable, it’s very close to the businesses and entertainment in the neighborhood.”
Because the site is near transit, Greenline was not required to provide on-site parking under new zoning regulations, although Tamir said that it will have 10 spaces.
Tamir said that a parking study showed that there was ample on-street parking within two blocks of their building for those who need it.
Managing Partner
Greenline Development Group
“We felt that the neighborhood could absorb an overflow of parking,” Tamir said.
Greenberg said that Greenline’s projects are likely to attract singles or young couples without children who work nearby and don’t own cars.
To avoid car payments and car insurance costs, “We feel that with the younger generation, more people prefer to live without a car,” Greenberg said.
‘Unique Concept’
The seven-story building at 3729 10th Ave., will share amenities with a second nearby project that Greenline is building at 3843 8th Ave., due for completion in July 2026.
The 10th Avenue building is scheduled to be finished in March 2026 with leasing starting in December 2025 or January 2026, Greenberg said.
“We have a unique concept here which I don’t think other developments have,” Tamir said.
“What makes this building unique is you get the amenities of a very large building with a smaller building. You have more intimacy, but you also get the amenities that you would get with some of these larger developments. We’re able to provide all the amenities but you don’t have to live in a 300-unit building.”
The shared amenities will include a pet spa, a gym, conference rooms, a community kitchen, coworking space, and bicycle storage.
The 10th Avenue site had two single-family homes on it, which Tamir said that Greenline sold to another developer for $1 to move elsewhere rather than demolish them.
The new apartment building that replaces them will have 28 studio apartments, 34 one-bedroom apartments, and seven two-bedroom apartments, Greenberg said.
Tamir and Greenberg declined to say what their projects will cost, but Calmwater Capital, with offices in Los Angeles and New York, announced in early September that it provided Greenline with a $16.55 million loan for the building at 3729 10th Ave.
“Market fundamentals clearly supported the need for new quality product in a business-friendly city like San Diego,” said Larry Graham, managing principal of Calmwater.
More Projects Planned
Hillcrest is a bustling, urban neighborhood, but Tamir said the 10th Avenue building is in a quieter section within walking distance to Balboa Park with views of the park from apartments above the fourth floor.
“What we’re offering is a sizable multifamily project, but that’s in a very quiet, residential neighborhood,” Tamir said. “There’s almost a direct pathway from this building to the park, so you have direct access without going to the street.” Tamir said.
Designed by Studio E, based in downtown San Diego, with Econ Construction, based in Sabre Springs, as the general contractor, the building itself is designed to blend in with the neighborhood with an exterior of metal panels that look like redwood, Tamir said.
A raised tower-like structure on the roof will have a mural by a local artist.
The apartments will come with floor-to-ceiling windows, allowing daylight to flood the interior, with glass railings on the balconies.
“We wanted to take advantage of the San Diego weather, maximize sunlight, maximize views, and make this space feel as open as possible,” Tamir said.
Each apartment will have a washer and dryer, stainless steel appliances and a keyless entry that allows tenants to admit visitors remotely.
Greenline’s other apartment projects include a 90-unit project at 2881 4th Ave. in Bankers Hill and an 88-unit project at 3604 4th Ave. in Hillcrest.
“We plan to do many more projects in San Diego. We’re looking at different opportunities,” Greenberg said, adding that demand for apartments is strong.
Greenline Development Group
FOUNDED: 2019
HEADQUARTERS: Hillcrest
MANAGING PARTNERS: Gilad Tamir and Adam Greenberg
BUSINESS: multifamily housing development
EMPLOYEES: 4
WEBSITE: www.greenline.com
CONTACT: 917-720-0153; adam@greenlinedg.com
NOTABLE: Greenline’s Development Group’s portfolio has a cumulative value of more than $216 million
