Hines, USAA Break Ground on $4B Riverwalk San Diego
Riverwalk Golf Course to be redeveloped into 4,300 apartment units, 1M SF of offices.
Hines and Bethesda, MD-based USAA Real Estate have broken ground on the first phase of Riverwalk San Diego, a 200-acre transit-oriented mixed-use development that will rise on the site of a golf course in the city’s Mission Valley neighborhood.
A total of 4,300 apartment units, 1M SF of new office space and 152K SF of retail are planned for the development when completed.
The first phase of the project, set to be completed in 2025, involves 930 apartment units spread across five buildings at Friars Road. The initial phase also will build 75K SF of grocery-anchored retail and a central green space.
The 18-hole Riverwalk Golf Course will remain open through phase one of construction and for a while thereafter.
Ultimately, Riverwalk will be anchored by a new San Diego Metropolitan Transit System (MTS) Green-Line trolley stop and town square at the heart of the village. Biking and walking paths will skirt and traverse Riverwalk, including an extension of the San Diego River Trail.
When finished, Riverwalk San Diego will include 100 acres of open green space, including a 60-acre regional park straddling the San Diego River.
The Riverwalk plan, established through a partnership between Hines and the Levi-Cushman family landowners, incorporates extensive community input gathered over several years by the Hines team in over 100 stakeholder group meetings, the Houston-based developer said on its website.
The Riverwalk project is the second major transit-oriented Hines development that moved forward in the past two months. The developer also kicked off a project to redevelop Boston’s South Station into a transportation center they will be topped by a 51-story tower.
The 1M SF tower will include 166 luxury condos and 670K SF of rentable commercial space, plus 500 parking spaces. The project will expand the South Station’s outdoor concourse area by 67% and double the size of a bus terminal at the station.
Along with creating a new public space at the train station concourse, the project will also improve the streetscape along Atlantic Avenue with new sidewalks, granite curbs, streetlights, greenery and street furniture.
The office component will feature 29,000-square-foot floor plates with 13-foot floor-to-ceiling heights and unobstructed views of downtown Boston and Boston Harbor. The residential component will offer studio, one-, two- and three-bedroom units along with penthouse duplex homes.