Park Laurel Partners LP, joint-venture developer of Park Laurel on the Prado, includes CLB Partners Ltd. of Dallas; RS Lawrence Development Inc. of San Diego, and JPMorgan Partners , the private equity arm of J.P. Morgan Chase & Co. of New York. Construction financing of $30 million has been provided by San Diego National Bank for the first development phase of the project.

General contractor Nielsen Dillingham Builders Inc. expects to finish Park Laurel¹s first phase of three park-facing, multi-level townhomes and 43 condominium residences in a 14-story tower in the third quarter of next year. The first phase encompasses the north half of the block bordered by Fifth and Sixth avenues, Laurel and Maple streets, at the crest of San Diego¹s prestigious Bankers Hill neighborhood.

Park Laurel¹s first construction phase is more than 50% sold at prices ranging from the $800,000s to $3 million for two through five bedroom floor plans ranging from more than 2,600 to in excess of 4,700 sf of space. A second Park Laurel development phase on the block¹s south half is planned with an additional 48 townhomes and condominiums in a second 14-story tower.