32nd & Broadway, San Diego, CA 92102
Offer Price:
Market
Zoning:
RM-1-1
Permits:
None
APN:
539-564-02-00
Lot Size:
±45,356 SF
Status:
Active
Submarket:
Golden Hill
Property Type:
Land
Strategy:
Value-Add
The Bove Land Team proudly presents 32nd & Broadway, a rare ±45,356 SF urban infill development opportunity located in San Diego’s rapidly evolving Golden Hill neighborhood. The property consists of approximately ±37,026 SF, plus an additional ±8,330 SF from the vacated Broadway paper street, creating a larger and more efficient development footprint. The site is located within a Qualified Opportunity Zone and it is expected to experience a substantial increase in development potential in the near term due to infrastructure improvements currently underway on the adjacent property to the north with an anticipated inclusion into Complete Community Housing Solutions.
The neighboring ownership is in the process of completing the required street, cul-de-sac, and sidewalk improvements, which are anticipated to be finalized next month. Upon completion, the property is expected to satisfy the pedestrian connectivity requirements necessary to qualify as a Sustainable Development Area (“SDA”), making the site eligible for inclusion within the Complete Communities Housing Solutions (“CCHS”) program. Based on preliminary discussions with City Planning, the site is expected to fall within the Tier 2 overlay due to its proximity to Downtown San Diego’s Regional Employment Center and location within Mobility Zone 2, potentially allowing for development intensity of up to 8.0 FAR with reduced parking requirements. This creates a unique opportunity for developers and investors to capitalize on a pending zoning evolution before the broader market fully recognizes and prices in the site’s anticipated future density potential.
Listed By:
Aaron Bove
Executive Vice President | San Diego Region
aaron.bove@colliers.com
CA Lic. 01318320
Direct: +1 858 677 5319 | Mobile: +1 858 945 7094
4350 La Jolla Village Drive, Suite 500 | San Diego, CA 92122