What Makes Wermers' New Project Complex

SAN DIEGO—Wermers Multi-Family Corp. is serving as general contractor to build Ariva 4, a 302-unit apartment project in the Kearny Mesa submarket that is the fourth phase of the Ariva Apartment Community on Spectrum Blvd. GlobeSt.com has learned that the developer for Ariva 4 is Centrum 4 L.P., but Wermers declined to reveal the estimated construction costs for the project.

The five-story project with more than three levels of cast-in-place concrete will also include a state-of-the-art leasing center, business center, fitness center and rooftop pool and lounge area. Occupancy and substantial completion are scheduled for late 2017.

According to Jeff Bunker, president of Wermers, this is a rather complex project. He tells GlobeSt.com, “The project is complicated due to its specific requirements that include dewatering, Type III construction, commercial glazing systems and ensuring a luxury finish level in the amenity spaces. These details along with the general labor shortage in the industry, makes the project more challenging.”

The project team will be led by 26-year veteran VP Richard Wood and project manager Ken Maskevich, both of whom are industry leaders in complicated podium projects. “Wermers' experience and expertise are perfectly suited to deliver the project on time, within budget and with the highest level of quality,” says Bunker.

As GlobeSt.com reported in March, Tom Wermers, CEO of Wermers, talked to us about the strongest submarkets in San Diego for multifamily development. He said, “If you drop a pin anywhere Downtown, the submarket is hot. The beach cities are strong because everybody wants to live there and anywhere close to public transit, too. The 56 corridor has the best school district, so people with kids are drawn there, and there's been a trend toward mixed-use urban there, too—there's been a lot of talk about One Paseo, but it's consistent with what people want: to come home on a Friday and not have to get in their car all weekend. Plus, there's the job growth, particularly in Del Mar, where some of the highest-paying jobs are. It's a fantastic location, and there are no problems leasing in that market. These are the positives.”