Could SD Be Growing More Open to Density?

Chiles: “You do focus groups and find out what local residents do want and what they will support—you don’t try to cram it down their throats.”

SAN DIEGO—Working with residents to build what they want in a project is the key to success in markets that are density shy, CBRE’s SVP Bill Chiles tells GlobeSt.com. As we recently reported, Chiles, along with Scott Peterson and Brian Cruz of CBRE’s San Diego office, arranged a $65-million loan for the refinance of the Village at Pacific Highlands Ranch on behalf of Coast Income Properties. The team secured the aggressively priced, 11-year, fixed-rate loan to take out the existing construction loan.

The class-A, 147,718-square-foot retail project in the master-planned Pacific Highlands Ranch community is part of a greater mixed-use property that will feature premier retail, a community library, a regional park and multifamily units. We spoke exclusively with Chiles about the transaction and whether the region, which is notoriously averse to density, is becoming more open to it in the form of mixed-use projects like this.