Hillcrest block for sale for $18.5M

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

SAN DIEGO - A key block in Hillcrest is up for sale for $18.5 million with anticipated redevelopment within 10 years.

Nick Totah, Marcus & Millichap broker, has been working on the deal for more than a year. The sale includes two listings covering seven parcels of land on the east side of Sixth Avenue, between Robinson and Pennsylvania avenues.

“Getting a whole block in one shot is a very rare opportunity,” Totah said. “This is the second largest offering from a brokerage firm in over a decade.”

The redevelopment plan could include 150 apartment units and 40,000 square feet of retail space. The city has already granted zoning permission for the location,Totah said.

He said the buyer would likely leave the properties unchanged for the next seven to 10 years until most of their leases expire.

"It makes us nervous,” said Andrian Sudseno, owner of Tajima Ramen Bar which opened four months ago.  “Hopefully they keep up with the business. Hopefully they improve rather than change the whole building.”

Sudseno said his lease protects him for now but fears that by the time he builds his clientele, he may be asked to leave.

However, those in support of the redevelopment believe the booming neighborhood lacks office space and newer housing.

“Basically the whole area even into North Park is really taking off…it's really changed, so it doesn’t shock me that they’re selling property here for a high value,” said Dashiell Scott Jackson, a University Heights resident.

BJ Noman, owner of Moda Salon, said the redevelopment will bring added value for the neighborhood and give it the boost it needs.

“I think it’ll be a good benefit for the businesses – I think it’s worth it,” Noman said.

Totah, who will be showing the property to several investors next week, said he is confident he will have an offer by the end of the year. He said he is concentrating on finding the right investor whose vision will fit in with the neighborhood.

9 comments

    • pjamason

      Hi Liam, SANDAG estimates we need 330,000 new housing units in San Diego by 2050, many of these for people who already live here. Hillcrest is close to jobs and transit – where do you recommend new housing go instead?

      • UH

        Forget SANDAG, they think of revenue, taxes, making sunny, beachy, San Diego into something I don’t want.
        Resident since 60’s, homeowner, college, federal employer.
        These choices are not in the community’s interest.

      • Wlov

        Hilcrest is close to jobs but that does not mean that they have thousands of jobs that need to be filled and so we need to build housing to bring those people in. Everyone except land developers and associated trades that make their money at the expense of community quality of life would like to see the population of San Diego stay the same. population control is not racist nor does it mean you can not have kids. Matter of fact, every couple would have to have 2.1 kids just to maintain the population. But with population growth comes added problems which are never resolved ahead of time, like water. On top of that there is power generation, more landfills to create, more police and fire depts that are all tax payer paid. More libraries more everything more taxes. SCHOOLS, how much of your property taxes goes towards schools already and, have you ever heard of a well funded school? We could use another billion dollars of tax money for the schools. Less room for people less parking, longer commutes, more congestion, less open places. How many children have a safe place to play right out their front door? Yeah it is great we have balboa park. I am not sending an 8 year old to bike 6 miles through the city to go play there when San Diego is number one for bicycle fatalities.

        • Mark L

          Kill community growth & that will kill the city’s economy. First, if more police & EMS are needed then the city can have the developers contribute to the development of more stations. That’s how larger master-planned communities are built, with developers building the community infrastructure, schools, police, EMS, libraries & community centers along with the residential & commercial developments Of course, 150 living units won’t require nearly as much additional community development. The new living & retail units will contribute to the broad taxes which will help fund more city services in the immediate area. Opportunities for more water & energy efficiency, like when the bio-tech firms built new buildings which were designed with dual plumbing systems so that drinking water would no longer be wasted flushing a toilet or to cool a building, instead a secondary waterline for recycled & desalinated water could be used. Even bike safety is being improved in the city by reconfiguring traffic lanes so that the traffic continues unimpeded, while the lesser used middle lane, which is used for a few left turns throughout the day or is unused as a painted median, can provide needed bike lanes with wide buffer zones separating autos from bikers.

          If you’re really concerned about the impact on the community, then suggest to a city council person what would improve or avoid future growth issues so that they address these needs in the planning process. Problems are experienced after the projects are completed because the community wastes productivity complain to friends & family, but don’t bother suggesting real solutions to city planners while projects are in the planning stages. Otherwise, muttering the useless, “I knew _____ would happen,” helps no one.

          Pushing potential residents out farther from the areas where they will work adds to the traffic congestion coming into the city, increasing air pollution & adding more busses for the added commuters living in communities farther away. That exacerbates those problems, not resolve them. To resolve longer, slower commutes more housing needs to be built where the work is so that people can move closer to their work & walk, bike or drive shorter distances with other people living & working in the community. This puts fewer cars on the freeway & reduces rush hour demand. Los Angeles & Orange County failed to understand this concept, which is why they can experience traffic congestion throughout the day & often into the late evening. As the residential communities were pushed father away from the business centers, even running simple errands required longer drives to shopping centers & the like.

          Cheers !

  • UH

    Thank goodness I left Hillcrest when it was still enjoyable-guys it’s overbuilt, lacking character, parking,.and only crazy people like Todd Gloria would think it a cool place to ride a bike.
    Heck, the streets are narrow;the buses, cars, ambulances? NOISE?

  • Thiago da Silva

    Jeeezzee Office space really… and redevelopment in hillcrest….There some prime area needing development south of downtown. Why don’t they focus on redeveloping East village downtown area and Bairro Logan and expand near the water. Now they are building a target in south park and now this. Soon rent will go up even higher and folks like myself and others will be forced out of the neighborhood we been in for years.

Comments are closed.