Richman Group Starts Work on Seven-Story Mixed-Use

SAN DIEGO—The Richman Group has started construction on a seven-story luxury apartment building with 5,841 square feet of ground floor retail space on a 0.57-acre site in Downtown’s East Village . The mixed-use project called F11 will front on the north side of F Street between 11th Avenue and Park Boulevard in the tech/design innovation hub called the I.D.E.A. District .

San Diego

F11 will feature 99 apartments (11 one bedrooms, 51 two bedrooms and 37 studios), parking for 103 vehicles in a multi-level partially subterranean parking garage and extensive recreational amenities. The project is scheduled to open in early 2018. Architects DesignARC, Inc. designed a modified H-shaped building that showcases a large indoor/outdoor activity center on the third floor with a luxurious pool/spa area, entertainment center and outdoor kitchen. Other amenities include a fitness center and indoor bocce ball court. The development team also includes Nexus Planning Consultants , landscape architects Wimmer Yamada and Caughey and general contractor Cannon Constructors . The Richman Group of California, which is partnering with the long-time property owner Shearn Platt , is a subsidiary of The Richman Group Development Corp., ranked in the top seven of multi-family apartment owners in the United States. Financing for the $45 million project was provided in part by PNC Real Estate and The Richman Group (TRG). “Since I grew up here and have spent much of my career in San Diego, I’m delighted to start construction on The Richman Group’s first San Diego project,” said Luke Daniels , president of The Richman Group of California Development Company, who helped establish the company in January 2014. Daniels was a key member of the development team for several iconic San Diego projects, including Park Laurel overlooking Balboa Park and Mission Hills’ 1Mission , which earned the Gold Nugget Grand Award for best mixed-use project in the Western United States. The Richman Group of California has developed an impressive portfolio in a short time. This month, the company completed construction of its first project, Ventana , a mixed-use project in downtown Fullerton, and finished the foundation for Sage , a five-story apartment community in Cerritos . Later this year, The Richman Group plans to break ground on a 23-story, high-rise apartment tower across the street from the Central Library in Downtown San Diego. Founded in 1987, The Richman Group has grown into one of the nation’s largest privately owned residential real estate investment, development and asset management firms. The Richman Group of California is located in La Jolla .