Is Mission Valley a More Affordable Living Option in San Diego?

Mission Valley may become a more affordable living alternative to Downtown San Diego and La Jolla with the same high-quality options. A joint venture between Holland Partner Group and North America Sekisui House has acquired a 10-acre land site in the Town and Country redevelopment with plans to build a 840 residences on four parcels. Lowe, AECOM Capital and Atlas Hotels are redeveloping the 40-acre Town and Country site into an urban resort and conference center.

“The vision for the project is to create a thoughtfully designed transit-orientated community that complements and integrates with the redevelopment of the Town and Country Resort while providing much needed housing to meet the growing demands of the San Diego region,” Tom Warren, executive managing director at Holland Partner Group, tells GlobeSt.com. “The buildings were designed by Carrier Johnson and are inspired by the mid-century modern architecture and design of the Town and Country hotel. The residential buildings will be equipped with state-of-the art amenities, including fitness centers, resident club houses, game rooms, pool and spa decks, and business centers.”

The residential neighborhood is an integral element of the Town and country redevelopment. “A key component to the re-envisioned property is the downsizing of the hotel which consolidates operations and removes some outlying buildings that allows for the creation of a comfortable neighborhood on the four residential parcels,” Mike McNerney, EVP at Lowe, tells GlobeSt.com. “The new apartment residences are located on the southern and eastern edges of the property.”

There is strong demand for housing, both residential and apartment options in San Diego. Mission Valley is centrally located in San Diego, but offers a more affordable option, according to Warren. “Holland believes the direct adjacency of the residential to the hotel, transit, riverfront park and plethora of shopping and restaurant options provides a highly attractive amenity package to potential residents,” he says. “The project provides a more affordable alternative to living in Downtown San Diego or La Jolla/UTC while still offering convenient access to the major San Diego job centers and entertainment.” Construction on the residential portion of the project will begin early next year, and the first units will deliver in the first half of 2021.

The joint venture developers of Town and Country assembled and sold the 10-acre site to Holland in a deal brokered by JLL’s Darcy Miramontes, Kip Malo, Bob Patterson, Lynn LaChapelle and Sach Kirpalani. “Lowe engaged JLL to manage the sale process and identify a company with an interest in acquiring all four sites and working in coordination with Lowe to realize the new vision for the Town and Country property,” says McNerney. “We are delighted to now have Holland Partner Group creating the top-quality apartment residences. With the sale completed the hotel renovations have begun.”