SAN DIEGO, CA - Last week’s unanimous approval of a seven-story luxury apartment/retail mixed-use development in downtown San Diego by Civic San Diego is The Richman Group of California’s third Southern California project to receive approval and start development since the company was founded one year ago.
In the last six months The Richman Group of California, LLC, has received government agency approval on three multifamily residential/mixed-use projects located in Los Angeles, Orange and San Diego counties, with a total of 326 apartment units and a combined value of $150 million.
Richman’s latest development, known as F11, will front on the north side of F Street between 11th Avenue and Park Boulevard. The project includes 99 apartments (11 one bedrooms, 51 two bedrooms and 37 studios), 5,644-square-feet of street-level commercial space, resident and guest parking spaces, and indoor and outdoor recreational amenities. The design features three residential towers that surround a south-facing courtyard and pool area. Other amenities include exercise facilities and a bowling alley.
The Richman Group of California, which is partnering with the long-time property owner Shearn H. Platt, is a subsidiary of The Richman Group Development Corp., ranked in the top seven of multi-family apartment owners in the United States.
The development team includes Nexus Planning Consultants of San Diego, architects DesignARC of Los Angeles, and landscape architects Wimmer Yamada and Caughey of San Diego.
Construction is planned to start in the first quarter of 2016 with completion anticipated about 18 months later.
“We are excited to be one of the first projects adjacent to the I.D.E.A. District, a proposed 35-block area infused with Innovation+Design+Education+Art in Upper East Village,” said Luke Daniels, president of The Richman Group of California, LLC. “Our residents will be surrounded by this vibrant transformation. East Village is becoming San Diego’s center for cool.”
Construction is well under way on The Richman Group of California’s first project, a 95-unit seniors affordable community, located at 345 Commonwealth Ave., Fullerton. The six-story, 130,000-square-foot midrise building on .6 acres will also feature 3,200 square feet of retail space and a subterranean parking garage for customers. Construction is scheduled for completion in spring of 2016.
The Richman Group of California also plans to break ground on a 132-unit luxury apartment community in Cerritos, Calif., later this year.