Janez Properties Takes on Oceanside Condo Project

OCEANSIDE, CA-The $32-million Oceanside Terraces Condominiums project has been taken over by a new developer, as Oceanside Pier View LLC (a related entity of San Diego-based Janez Properties) has procured development rights from Southland Land Co. Both Oceanside’s city council and redevelopment agency have approved the transfer, according to Janez Properties’ managing director Ron Douglas.The proposed site of Oceanside Terraces Condominiums, currently known as Parcel B, is located at the intersection of Mission Avenue and Cleveland Street within the city’s Seaside Redevelopment District. “It’s a unique opportunity to be part of what we see as a considerable change happening along the shoreline of Oceanside,” Douglas says. He points out that a pending new hotel project and a timeshare development are also currently in the works for Downtown Oceanside. Construction of Oceanside Terraces Condominiums is expected to begin this fall, as Douglas explains. “We’re planning on submitting our full working drawings by Sept. 1 and then there’s the normal plan check review process that will take about 45 days,” he tells GlobeSt.com, adding that the groundbreaking will kick off somewhere within that 45-day period. Completion is slated to occur approximately 15 months after the developer breaks ground on the project. Construction services will be provided by San Diego-based Ledcor SD Construction Inc., part of the Ledcor Group of Cos. Design plans call for a six-story building that will house 38 condominium units on the top three floors. Unit sizes will range from 1,700 sf to 2,700 sf, with penthouses located on the top floor, Douglas says. Many of the units will have a view of the ocean, as the development is slated to rise just four blocks from the beach. Additional amenities will include two levels of subterranean parking, storage units on the second floor, and a podium level on the third floor that “will have extensive landscaping and areas for the residents to have barbecues or throw parties,” according to Douglas. A pricing range of roughly $700,000 to $1 million has currently been set, although Douglas says the developer probably “won’t get firmer on pricing until the spring of next year.” Aside from the 38 planned residential units, Oceanside Terraces Condominiums will also contain 23,000 sf of retail and office space. The office component will be located on the second floor, along with the storage units. Douglas surmises that the project’s office occupants will probably be tenants that do business with the City of Oceanside, given the development’s planned location just a couple of blocks away from City Hall. The first floor will house the retail space, which Douglas expects will be occupied by a sit-down restaurant, as well tenants providing smaller, ancillary services.