Western Pacific Housing was the buyer. The seller was the San Diego Rescue Mission. Victor Krebs of Colliers International represented the buyer. Ron Bement of CB Richard Ellis represented the seller.
Western plans to build a 102-unit condo project. The market has been especially hot for condo, apartment and town house construction, as the cost of single-family home has risen in San Diego County. Among the larger projects: a $120 million twin-tower condo and townhouse community on Bankers Hill near Balboa Park.
CLB Partners Ltd. of Dallas has joined with San Diego-based RS Lawrence Development Inc. in forming Park Laurel Investors, a joint venture for the purposes of developing Park Laurel on the Prado. The luxury development at Sixth Avenue and Laurel Street is scheduled to be complete by the end of the year.
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