JPI Lands Financing for $104M San Diego Community
JPI closed on construction financing for Jefferson Pacific Beach, its $103.5 million development in San Diego, scheduled to break ground this month. The land was the former home of the Guy Hill Cadillac dealership. PCCP provided the construction loan.
The three-acre project will comprise 172 luxury apartments across three levels of podium construction. Additionally, 14,000 square feet of ground floor retail and creative office space will also be built into the development.
A Look Inside
Floorplans include studio, one-, two- and three-bedroom units, plus townhomes. Sizing ranges from 588 to 1,773 square feet.
Interior features include:
- stainless steel appliances
- quartz countertops
- European-style cabinets and hardware
- hardwood-like floors throughout
- keyless FOB entry
- mudrooms at unit entranceways
- tech nooks
- wine fridges in select units
- LED backlit mirrors in select units
Residents have access to amenities such as:
- resort-style pool
- fitness center
- community kitchen
- DIY surfboard repair station with watercraft and wetsuit storage
- bike repair station
- dog wash
Jefferson Pacific Beach was designed by Carrier Johnson + CULTURE and will also include the upgrading of seven existing traffic signals and the addition of one new traffic light within the Mission Bay Drive corridor, with an adaptive traffic signalization system. This allows for real-time traffic coordination to achieve a more efficient flow and relieve congestion on Mission Bay Drive. The site is located adjacent to Mission Bay Park.
“JPI stands as one of the most active, privately-held real estate companies in the U.S. We believe in not just developing multi-family physical structures, but even more important: building communities where people can thrive,” Todd Bowden, senior vice president & managing development partner of JPI West, told Multi-Housing News. “There’s no better example of that than Jefferson Pacific Beach, which neighbors San Diego’s coveted Mission Bay Park. The amenities provided to our residents complement the coastal lifestyle, and include a public plaza for the community to gather and enjoy. Upon completion, Jefferson Pacific Beach will provide a gateway into the community and activate Mission Bay Drive; and we are proud to be a part of new and exciting developments surrounding Mission Bay Park.”
Earlier this year, JPI also secured financing for two other luxury developments, Jefferson Mercer and Jefferson Creek, located in Farmers Branch and Richardson, Texas