Colliers International‘s San Diego office announced Tuesday the sale of a $15 million parcel on Pacific Highway in Little Italy that will be developed as an eight-story luxury apartment building.
The buyer of the site at 1919 Pacific Highway was Wood Partners, an Atlanta-based multifamily developer. Plans call for 110 studio, one-bedroom and two-bedroom units with unobstructed views of San Diego Bay.
“Little Italy is a vibrant neighborhood that continues to attract top local and national developers based on the strong demand for luxury apartments and condominiums,” said Victor Krebs, Senior Vice President at Colliers International.
“1919 Pacific Highway’s location is unique in that it will have unobstructed views of San Diego Bay and the Waterfront Park for generations,” he added.
The seller of the property was Thomas Chen Associates.