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More Large-Scale Housing in Mission Valley, Gaslamp Gets New Rooftop Bar

This week's local real estate news


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Millennium in Mission Valley will have 300 apartments and retail space over five acres. | Image Courtesy of TCA Architects

Word on the Street

Five-acre apartment, retail complex coming to Mission Valley

A developer revealed its plans for a new housing project in Mission Valley that will span more than five acres.

Millennium Mission Valley recently broke ground and will bring roughly 300 new apartments, 9,000 square feet of retail space, and a public plaza to the corner of Camino Del Rio North and Camino Del Arroyo, which for years had been occupied by a car dealership and boat repair service.

Developed by Houston-based The Dinerstein Companies and designed by TCA Architects, the four-story project is alongside Interstate 8 and a block away from Westfield Mission Valley West. The retail shops—two single-story buildings fronting Camino Del Rio North—will be separated from the apartment complex by 4,000 square feet of open space and a parking lot. The complex also includes 14 “shopkeeper” live-work units.

Josh Vasbinder, West Coast partner of The Dinerstein Companies, said that the goal is to create a pedestrian-oriented atmosphere for residents and shoppers. “By creating a more walkable environment along the project frontage we hope it helps create more opportunities, be it redevelopment or new businesses, to this part of Mission Valley,” Vasbinder said.

For the retail portion of the project, Vasbinder said they are seeking a chef-driven restaurant concept and local businesses who can bring needed services to the area. “Overall, the developer’s objective is to find tenants that will help strengthen the main street feel that was created via the architectural design,” he said.

The project is planned to be completed in 2017. Rent prices haven’t been established yet, Vasbinder said.

The Millennium is one of six large-scale developments that are being constructed or planned in Mission Valley, including Sudberry Properties’ “city within a city” Civita development in Mission Valley East, the scheduled $80 million renovation of the Town and Country Resort, and proposals to redevelop the Union-Tribune headquarters and Riverwalk Golf Club. Whether the neighborhood can handle the projected number of new residences, hotel rooms, and businesses is up for debate.

 

New hotel opens in Gaslamp with rooftop bar

The 14-story Courtyard by Marriott San Diego Gaslamp/Convention Center opened its doors last week, with a new rooftop bar and lounge on the way.

The Courtyard by Marriott opened last week in the Gaslamp. Its new 14th-floor rooftop bar, The Nolen, opens November 5. | Image courtesy of J Street Hospitality

The 90-room property on Sixth and Island avenues caters to business travelers and is fitted with a computer station for checking flight information and printing boarding passes, as well as a 65-inch touch screen LCD “virtual concierge” and 24-hour snack bar.

Locals are excited about The Nolen, the hotel’s rooftop bar, designed by Bluemotif Architecture—the team behind Catania and Kettner Exchange—which will have 6-foot glass walls and views of the bay and Petco Park. Stay tuned for our First Look at The Nolen, scheduled to open November 5.

The hotel is owned by J Street Hospitality, which is also bringing San Diego its first Moxy Hotel, a boutique line that’s expanding all over Europe.

 

Park It

Hate looking for street parking in Little Italy? A new ten-story garage with 645 spaces opens today on Kettner Boulevard and Cedar Street, making it easier to visit some of the most popular and top-rated restaurants in the city.

During the day, the garage is reserved for county employees who work at the nearby Administration Center, but it is open to the public weekdays starting at 5 p.m. and on weekends. 

The $36 million parking structure takes up an entire block and will feature a public art installation by David Adey.

Do you think the new parking structure is good for the neighborhood, or is it a bad use of space? Tell us in the comments!

 

Tracking Turnover

Madison restaurant coming to University Heights

The former Lei Lounge on Park Boulevard is getting a new life as Madison, a restaurant that will bring upscale dining with indoor and outdoor seating to University Heights, owner Jeffrey Fink announced earlier this week.

The former Lei Lounge in University Heights is being transformed into a new restaurant, Madison, set to open in December. | Image courtesy of J Public Relations

Scheduled to open in December, the menu is being designed by Mario Cassineri, a Milanese native and executive chef of Bice Ristorante. Dan Dufek is developing the cocktail menu and wine program.

The 3,000-square-foot space will have a casual bar in front and will open up to an indoor-outdoor dining area with a high vaulted ceiling, cedar walls, and a large-scale rope installation that resembles guitar strings. Fink, who also owns M-Theory Music and is managing partner of Fluxx Nightclub, plans to install a high-end sound system.

 

Online petition started to save longtime restaurant

Albie’s Beef Inn, a steakhouse that has been in Mission Valley for more than 50 years, will close in December.

Known for its eccentric piano bar, Albie’s has a loyal following, and an online petition on Change.org was posted in hopes of saving the restaurant. Eater reported that Albie’s owner Ted Samouris was unable to negotiate a new lease with Travelodge Mission Valley.

 

Sold

Industrial campus bought for $55 million

A 14-acre business and industrial center in Poway was sold last week for $55 million.

The Legacy Stowe Business Center in Poway was purchased for $55 million. | Photo courtesy of Kidder Mathews

Locally based Sorrento West Properties purchased the property, which consists of three buildings totaling 241,187 square feet, from an affiliate of Prudential Insurance Company. Kidder Mathews represented both the buyer and seller.

Poway has the lowest overall vacancy rate for this kind of real estate in San Diego County, according to Kidder Mathews.

 

Elsewhere

Welcome to the ‘agrihood’

An interesting report says urban farms, not golf courses or swimming pools, are the desired amenity for new housing developments in some parts of California, and that these “agrihoods” are gaining traction throughout the state.

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San Diego real estate news and gossip, from businesses opening and closing around town, to the neighborhoods that are buzzing with construction and which homes and buildings are being sold and where. Parklets, placemaking, lofts, design, cool workspaces, cool living spaces, big buildings, and tiny homes are things we find fascinating, especially right now in San Diego. The cranes are back in the downtown skyline, and so are many of our sources in the real estate industry, so you might see a heavy bent towards the urban neighborhoods here. But we see you up there, Torrey Pines Mesa. We know about your new companies, institutes, and hidden foodtrucks in office parks and cool cafes on the bluffs. And Del Mar and Carlsbad and everywhere in between. If you see a “For Sale” sign or a “coming soon” sign that we should know about, or just have a question about a building or a place, send an email our way.

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