Australian retail developer Westfield Corp. has broken ground on its first residential project in San Diego, a 23-story, 300-unit residential tower adjacent to Westfield UTC shopping center in University City, which is undergoing a $600M redevelopment and expansion scheduled for completion the end of this year. The $200M project is replacing a parking lot at the corner of Nobel Drive and Lombard Place.
The project is being developed in partnership with Charleston, South Carolina-based Greystar Development and will be ready for occupancy in 2019, the San Diego Union-Tribune reports. It includes studios and one-, two- and three-bedroom units and features a sky lounge on the top floor with views of the ocean and surrounding mountains, private dining and a bar, a pool and spa, outdoor kitchens with grills, fire pits, a clubhouse with a sports lounge and billiards, a library and private workstations, and a gym with yoga and spin classes and steam rooms.
Residents will have underground parking and 24-hour concierge services. Rents have not yet been established, but the average rent in the area is $2,323 per month, according to CoStar. An extension of the Trolley’s Blue Line will connect the UTC shopping center with downtown San Diego in 2021.
The retail giant is looking for opportunities to develop about 8,000 apartment units adjacent to shopping centers in the U.S. and U.K. The next one planned is a 1,200-unit project in Stratford City in England.
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