Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-Construction of a $120 million twin-tower condo and townhouse community will begin this fall on Bankers Hill near Balboa Park.

CLB Partners Ltd. of Dallas has joined with San Diego-based RS Lawrence Development Inc. in forming Park Laurel Investors, a joint venture for the purposes of developing Park Laurel on the Prado. Construction of the luxury development is scheduled to begin this fall at Sixth Avenue and Laurel Street, just across the street from the western gateway of the park.

CLB Partners specializes in construction of multifamily residential projects on infill parcels, says Robert S. Lawrence, president of RS Lawrence Development. Real estate veterans Richard Bloch and Will Cureton, who had worked together for more than 10 years, formed the firm in 1997. Bloch served as chairman and Cureton as and chief operating officer of Dallas-based Columbus Realty Trust.

Cureton, a former collegiate and professional football player with the Cleveland Browns, says San Diego is a prime location for its urban infill housing over the next several years. His company has completed several luxury projects in the Dallas and Houston areas.

“We had an instant sense of love for the Park Laurel location, which is as good as it gets, combined with confidence in the design and all the outstanding work that Bob Lawrence has done to date,” he says.

The twin 14-story Park Laurel will include 94 residences, including seven multistory townhomes along Sixth Avenue facing Balboa Park and 87 condos.

This fall, San Diego-based Nielsen Dillingham Builders Inc. is scheduled to begin the 14-month construction of the first phase, which will include subterranean parking and some grade-level retail space along Fifth Avenue and Maple Street.

More than 70% of the 46 residences in Park Laurel’s first construction phase have been reserved. Prices will range from the $800,000s to about $3 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.