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Tuesday, Nov 28, 2023

Greystar Plans Little Italy Micro-Apartments Project

REAL ESTATE: 22-Story Tower in ‘Important Gateway Location’

A 22-story apartment tower is rising out of the ground in Little Italy, the latest in an ongoing series of apartment projects that have sprouted in the neighborhood.

Adam Covington
Senior Development Director

The 152,824-square-foot tower by Greystar, based in Charleston, S.C., is going up at 110 Beech St. at the northeast corner of First Avenue and Beech St.

“Little Italy is one of downtown’s most desirable areas, which is exemplified by its amazing culture, award-winning restaurants, chic boutiques and quaint plazas,” said Adam Covington, senior development director of Greystar.

Covington declined to say what the project will cost.

Greystar bought the property, which had been used as a surface parking lot, in October 2023 from First and Beech Corner, LLC.

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“This is a forward-thinking, sustainable project on a 100-foot-by-100-foot site that preserves and enhances Little Italy’s sense of place,” Covington said. “This project is at an important gateway location and will be impactful to San Diego’s skyline.”

‘Workforce, Micro-Unit Housing’

Known simply by its address, the tower will have 220 apartments, seven of which will be designated as affordable for low-income tenants. Monthly rents haven’t been set for the market-rate apartments.

Joseph Wong
Joseph Wong Design Associates

Designed by Joseph Wong Design Associates (JWDA), based in Bankers Hill, the apartments will average 556 square feet in a mix of 120 studios, 71 one-bedroom apartments, and 29 two-bedroom apartments.

“The units may sound small, but they’re efficiently laid out,” Wong said. “It’s a very unique project, because this is much-needed workforce, micro-unit housing for downtown San Diego.”

Wong said that the project was also notable for its location at what he said was “a very high-profile site within eyesight of Interstate 5.

“As you’re coming off the freeway, you’re going to see this building,” Wong said.

Covington said that the apartments will “maximize efficiency and daylight, while offering a relaxed modern design.”

The apartments will have floor-to-ceiling windows that can be opened and closed and stainless-steel appliances. Some will also have balconies.

Shared amenities will include a fitness studio, pet spa, and bicycle parking.

“The project’s crown jewel is the expansive rooftop deck, complete with a stunning sky lounge, pool and spa, outdoor kitchen, seating nooks, fire tables, and more,” Covington said.

Walkable Location

The building will have limited parking, with two surface spaces and 20 mechanical spaces in which cars are stacked in an elevator-like machine, to be summoned when needed.

Because of its location in the heart of an urban neighborhood, Covington said there’s no need for much on-site parking.

“The site has a near perfect walk score and is walkable to major nearby job and lifestyle amenity centers,” Covington said, adding that “the site is within minutes walking distance to the MTS (Metropolitan Transit System) Blue Line trolley and Santa Fe Train Depot, providing convenient access to San Diego’s coastal areas and beyond.”

The project is designed to earn LEED gold certification for its energy efficiency.

Construction is targeted for completion in late 2025.


Founded: 1993
CEO: Bob Faith
Headquarters: Charleston, SC
Business: Real estate investment, development and management of rental housing
Employees: 19,700
Website:  www.greystar.com
Contact: 843-579-9400
Notable: Greystar manages and operates more than $165 billion of real estate assets in 200 markets worldwide.


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