Development Land For Sale Near Future SDSU Mission Valley Campus Offers Potential 300+ Unit Apartment Project

Complete Communities Affordable Housing Incentives Allow for Approx. 200,000-Square-Foot Residential Development on Land Just Listed For Sale

SAN DIEGO, CA, UNITED STATES, September 28, 2023 /EINPresswire.com/ -- Empey Realty is excited to announce a prime multi-family development opportunity, perfectly positioned at the gateway to San Diego State University's future Mission Valley Campus. With an asking price of $10,000,000, this 51,389-square-foot, 2-parcel development site benefits from “Complete Communities” affordable housing density bonuses and reduced or waived development fees, allowing for approximately 200,000 square feet of residential units to be built on the site, located at 10505 & 10509 San Diego Mission Road in San Diego’s Mission Valley.

Notably, this is a “by-right” development, which means the permit can be processed administratively, without the need for Planning Group, Board of Zoning or City Council approval. Additionally, per architect Elizabeth Carmichael of ECOhouse Architecture, under Complete Communities, “the City of San Diego will waive development impact fees of $12,316 per unit if the apartments are 499 square feet or smaller,” amounting to a 300+ unit potential project with 43 units designated as “affordable” under Area Median Income standards.

The site is ¼ mile from SDSU’s future Mission Valley Campus, which will include a River Park with 80+ acres of recreation and open spaces, bike and pedestrian paths, bridges and plazas; a 95,000-square-foot retail hub teeming with options for shopping, dining, and entertainment; 1.6 million square feet of research & innovation space; a hotel & conference space; and newly completed Snapdragon Stadium. The next phase of construction will be the River Park, which has been designed with a bike and pedestrian corridor separate from vehicle traffic, directly connecting to Rancho Mission Road (the cross street to this corner-sited location).

The site is also located within a “special attention area” Trolley Station Design District under the Mission Valley Community Plan adopted in 2019, which outlines a future vision for Mission Valley as an oasis of urban living, complete with quality jobs, immediate access to unrivaled retail and entertainment, as well as green spaces and mobility infrastructure that encourage healthy outdoor living.

“This is an area on the brink of a renaissance,” says real estate broker Lauren Empey with Empey Realty, which has been exclusively hired to sell the two parcels. “Between the City’s and SDSU’s planned billion-dollar investments in this area, connecting to world class entertainment and recreation from this site will be a literal walk in the park.”

The seller is a non-profit organization and would also be open to partnering with a developer on the project, says Empey.

Photos, video and a detailed brochure with more information about the site and development potential can be found at https://www.sandiegodevelopmentland.com/

This is a great opportunity for a developer to get in on the ground floor of an area that’s about to receive major infrastructure improvements. For more information, please contact Lauren Empey at 949-433-9899.

Lauren Empey
Empey Realty
+1 949-433-9899
email us here

Prime Multi-Family Development Land For Sale Near Future SDSU Mission Valley Campus