Hillcrest Crossing is an 8-story, 88,977 SF (0.43 Acre) By-Right development opportunity with 161 dwelling units ranging from studio to two-bedroom, and 2,182 SF of retail space. Once built, Hillcrest Crossing will include 141 parking spaces and will boast luxury amenities, which will be competitive with other Class A properties in the submarket.
The property is located just west of University Avenue in a Transit Priority Area. Various amenities are within walking distance or a short drive away such as Balboa Park and numerous restaurants and breweries. The market of Hillcrest has seen very little institutionally sized projects due to shortage of contiguous parcels. In addition, home values in the area prevent land acquisition and assemblage from being economical. These factors will continue to constrain market rate apartment development and give the subject a strategic advantage in unique market positioning.
Hillcrest caters to a lifestyle for young professionals and newly forming families looking for highly walkability amenities and excellent access.