Ameriton of Denver will build the apartments at Kelly Ranch, under development by Texas-based Hillman Properties between El Camino Real and Agua Hedionda Lagoon. Shea Homes also plans to build about 150 single-family homes at the site.
Hillman, developer of the master-planned Aviara community in Carlsbad, received approval for the project from the City Council last week. It acquired the property in 1998. The developer has agreed to a stipulation by the state Coastal Commission that 130 of the apartment units be set aside for low-income residents.The commission will consider the project again August. If approved, grading could begin in early fall, Hillman officials says.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
