Initiated in 2015, this redevelopment effort covers multiple blocks of varied levels of recent investment, as well as long term urban decline.  The heart of this Diamond neighborhood in southeast San Diego is the Euclid Avenue Transit Station.  Focusing on this core hub, our development team crafted a connective array of mixed uses, including repositioned retail services, new housing choices, offices for institutional service providers, and educational facilities.  These anchors were tied together with plan for a significantly enhanced public realm, with multi-modal transportation options, fully accessible greenspace, and new art installations.

The client, Jacobs Center for Neighborhood Innovation, had been a 20 year champion in the area, but under past leadership had not seen a growing value of the millions of dollars they had invested in the area.  Serving as a strategic advisor, our team assessed demographic and market forces, retail synergies, workforce connectivity, increasing housing costs, accessibility issues, health interests, neighborhood safety, multi-age educational opportunities, and variable capital markets.  All of this was undertaken with rigorous financial analysis, and significant stakeholder engagement.

Since the project has just been recently adopted, it is difficult to fully assess the total cost of development that will result from these efforts, but first phase initiatives could well exceed $150 million with further phases being even substantially greater.Due to California’s extensive entitlement requirements, and a projected partnership with the area transit authority, this could mean at least two to three years before breaking ground on current projects.Recognizing these conditions and current political support, it is likely that public financing would exceed JCNI’s $20+ million next phase equity investment and be part of a multifaceted financing structure to ensure this area becomes more economically sustainable.

san diego, california

Project overseen by Vincent Gauthier while serving as Director of Planning for BNIM

CLIENT:

The Jacobs Center for Neighborhood Innovation, the Diamond Neighborhood

PROJECT OVERVIEW:

Major mixed-use, transit centered redevelopment effort covering 37 acres in southeast San Diego’s diverse Diamond District neighborhood. Planning work completed in 2016

SERVICES:

Pro Forma Development
Property Analysis
Market Assessment
Funding Identification
Financial Feasibility Analysis
Design Charrettes

REFERENCE:

Reginald Jones, President
Jacobs Center for Neighborhood Innovation
San Diego, CA
(619) 527-6161