CIVIC SAN DIEGO CELEBRATES APPROVAL OF EAST VILLAGE PROJECT WITH KEY COMMUNITY BENEFITS
City Council Approval Allows Mixed-Use, Mixed-Income Project to Move Forward for Park Boulevard and Market Street Site
SAN DIEGO – Dec. 14, 2016 –Marking a substantial step forward in the development of a transformative, mixed-use, mixed-income, full-block development in the East Village, the City Council on Tuesday approved the Disposition and Development Agreement (DDA) with Holland Partner Group for the Park & Market project.
Designed by Carrier Johnson + Culture, the multi-faceted project will consist of a 34-story residential tower including 426 residences of which 85 are very low-income affordable apartments, a four-story office building fronting Market Street, approximately 22,000 square feet of retail, and more than 5,000 square feet of public open space. The University of California San Diego has announced that they will own and occupy the 4-story office building within the project as the first UC San Diego location in Downtown San Diego. Additionally there will be a one-story retail building along Park Boulevard and, to further activate the property’s public plaza, the historic Remmen Building along Park Boulevard will be renovated with retail and restaurant uses with outdoor seating.
“We are thrilled to see Park & Market move forward with dedicated benefits to our Downtown neighborhood,” said Civic San Diego President Reese A. Jarrett. “The presence of UC San Diego’s Innovative Cultural and Education Hub realizes a long-held dream of seeing one of San Diego’s higher educational institutions in an urban core location; the project also produces a double bottom line of inclusionary affordable housing, along with the realization that the proceeds from the sale of the site will be reinvested in additional affordable housing.”
The Holland Partner Group presented Park & Market to Downtown neighborhood community organizations and worked with CivicSD staff to propose a project that would contribute to the quality of life and economic development of the surrounding community. The proposed project will include:
- Creating approximately 600 full-time pre-development/construction jobs.
- Creating and maintaining approximately 185 direct full-time jobs.
- Providing 85 affordable rental apartments at very low-income levels.
- Complying with state prevailing wage laws.
- Creating a connection between Park Boulevard, the public plaza and amphitheater to serve as a gathering place for the public to be used for cultural and entertainment experiences.
- Providing optimal location to the trolley that connects UC San Diego’s campus to Downtown location.
The DDA provides for the sale of the property to the Holland Partner Group for a purchase price of $12.3 million, which will be deployed back into the City of San Diego’s Affordable Housing Fund. It also requires the developer to design, finance and construct the project in its entirety. Construction is anticipated to begin in September 2018 with completion targeted for late 2021.
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Civic San Diego is a nonprofit, public benefit corporation created by the City of San Diego to engage in economic development, land use permitting and services, and project management services.
Last modified: March 28, 2022