Wermers Multi-Family Corp. has announced construction is moving forward on a residential project they are overseeing in North Park.
The project is called City View and when completed, will be a four-story 31-unit apartment complex on a 0.40-acre lot that will have units each measuring approximately 1,000 square feet.
The complex will include a management office, community room, computer lab, laundry room, outdoor activity deck, and trash and recycle chutes.
The project is being built to obtain a LEED certified rating from the U.S. Green Building Council with sustainable amenities such as energy star appliances, windows and insulation.
The project is located at the northeast corner of Georgia Street and Polk Avenue, and is slated for completion in spring 2012.
MW Steele Group Inc. is the architect on the project and PUFF Consulting Engineers is acting as the structural engineer.
Vice President Richard Wood is leading the Wermers team on this project, along with manager Kevin Hanson.
The project was originally scheduled to be a condominium complex, but according to Anna Scott, senior project manager for Affirmed Housing Group, lending issues and construction delays halted the project, forcing it into default. Approximately 18 months ago, Affirmed Housing and the San Diego Housing Commission initiated the process to take over the bank-owned property after obtaining federal funding.
"There were stimulus funds available that had to be used on affordable housing," Scott said. "The local housing commission helped us get these funds."
Before Affirmed Housing took over, the project had been built up to the second floor. The building had to be torn down because the grading was bad and crews had to start over, Scott said.
Rent on the apartments will range from $736-$883 for a one-bedroom unit, $883-$1,060 for a two-bedroom, and $1,020-$1,224 for a three-bedroom unit, according to Scott. Solari Enterprises Inc. will handle leasing of the apartments.
Scott added that Affirmed Housing decided to take over this property because it was in close proximity to public transportation, employment opportunities, medical services and shopping centers.