News
New Apartments Tough to Do in Carmel Valley
October 22, 2014
An 8.5-acre parcel approved for 252 apartments in the Village at Highlands Ranch traded hands for $17.5M. Colliers International’s Gunder Creager tells us that the market is high barrier to entry, because there are few-to-no zoned multifamily development sites available in the Carmel Valley, with the exception of the Village at Pacific Highlands Ranch and One Paseo. “It will command top-of-the-market rents,” Gunder says. He repped the seller, PHR Village, along with colleague David Santistevan. (Gunder's holding his company's San Diego Region "Top Dog Award" for being a multiple-time top producer.)
