SAN DIEGO – August 20, 2021 – Abington Emerson Investments, LLC secured a construction loan and broke ground on a new Opportunity Zone development located on Arizona Street in the North Park area of San Diego. The four (4) story over podium, 48-unit property with rooftop tenant amenities and reduced parking requirements, presents a rare urban infill opportunity in a community that has been gaining widespread recognition as a center for the arts, dining, and entertainment.
The general contractor on the project is R&R Construction Company who has a long and track record of successful multi-family and commercial developments in the San Diego area, including a recently completed mixed-use project across the street from the Arizona Street development.
“North Park is a vibrant, growing in popularity neighborhood that has a substantial demand for housing. We are happy to be able to add both affordable and market rate units to the area,” commented John Camarena who runs Abington Emerson’s San Diego office.
The construction is estimated to be completed in summer of 2023.