SAN DIEGO, CA-The locally based contractor Wermers Multi-Family Corp. has kicked off a renovation project involving the 12-year-old Terra Vista I Condominiums complex in San Diego.

The 144-unit property, which is owned by Terra Vista I HOA c/o Preferred Property Management, stands at 10327 Azuaga St. Residents will remain in their condos during the renovation, which is slated for a March 2003 completion. The rehab will include exterior upgrades such as new roofing and paint, as well as deck and stucco repairs.

Golba Architecture and Preferred Property Managers are serving as consultants on the project, while Wermers’ own team consists of Bart Harman, Mike Young, Steve Smith and Michelle Simmons.

Condominiums and other multifamily properties have seen an increase in popularity in recent years, as housing affordability in San Diego and across the state continues to decline. The percentage of California households that can afford to buy a median-priced home decreased by five percentage points in June 2002, compared to one year ago, according to a recent report by the California Association of Realtors. In June of this year, only 27% of households could afford to buy homes, while 41% could afford to buy condos.

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?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.