However, the site also comes with challenges. "One of the biggest challenges of redeveloping a golf course is the trade-off between building and open space. Surrounding communities often appreciate the views they have of the course's greenery and open space. Recognizing this, at Riverwalk, we're setting aside nearly half the land as open space, including an 80-acre public park," says Hepfer. "The surrounding community will still enjoy views of natural space but also be able to access that space everyday rather than it being reserved for golfers."

There is growing demand for masterplanned communities and housing in San Diego. "Earlier this year, the City of San Diego completed its Mission Valley Community Plan Update, which provides a roadmap to creating a transit-oriented, walkable and bikeable community—a change from its history as a location for shopping malls and hotels," says Hepfer. "Consistent with that community plan, Riverwalk will create a sense of place and a main street for Western Mission Valley. While there is nothing like it in the submarket yet, the demand for this lifestyle is exceeding its supply in neighborhoods like Little Italy, North Park and Bankers Hill. We believe with the severe housing shortage in San Diego, a walkable community within Mission Valley will be in high demand due to its central location and access. It's in the center of the city, within 15 minutes of everything; beach, downtown, UTC, universities."

The San Diego planning commission is expected to review the plans in August, and the City Council will vote on the project in October.