Canter Companies’ New Development Project adds to Urbanization in San Diego’s Fast-Growing Little Italy
New 10-unit complex features environmental-friendly condos
SAN DIEGO, CA – March 6, 2015 – Canter Companies, a full-service investment and real estate firm dedicated to the entire lifecycle of development and investments, is putting the finishing touches on its unique urban infill project called Ten on Columbia located at 2104 Columbia Street in Little Italy. This 10-unit multi-family rental property is the largest ground-up development for the company and is one of the latest urbanization projects in San Diego.
With declining homeownership rates, this is the perfect climate for urban infill developments as consumers are more prone to seek out rental opportunities. A 2014 survey by National Association of Realtors reported that the purchase of homes by first-time homebuyers dropped to 33 percent, representing the lowest market share since 1987. This development project is part of Canter Companies’ focus on the revitalization of San Diego neighborhoods and communities with new and beautifully designed properties.
“Canter Companies is dedicated to making significant investments in the greater San Diego area because this is where we live and work,” said Isaac Dixon, vice president and portfolio manager of Canter Companies. “Little Italy is a vibrant area and we wanted Ten on Columbia to capture its spirit and blend in with the community. We’re excited to finish this project and start work on our next development as we help San Diego grow.”
Ten on Columbia has a modern design with large front-facing windows and outdoor areas to take advantage of the warm and mild Southern California weather. This property boasts four different floor plans with multiple options that span from 605 to 1,288 square feet. Its exterior surfaces include long bands of dark Cyprus wood siding, Santa Barbara smooth stucco and anodized aluminum in a black bronze finish. The apartments are also fitted with environmentally-friendly features such as ductless heating and air conditioning, tankless water heaters and insulation materials that are above industry standards.
Its location in the Little Italy neighborhood of San Diego is ideal for people of all ages and interests because it is minutes from major freeways and the San Diego International Airport. Additionally, the Little Italy Association of San Diego hosts a number of special events in the community, including the Little Italy FIESTA! and ArtWalk which are the West coast’s largest Italian festival and the largest fine art festival, respectively.
As proof of its commitment to the community, Canter Companies provided the old building where Ten on Columbia now stands as a practice environment for the San Diego Fire Department before demolishing it. Construction on the property lasted approximately 10 months and it is currently in the final phase before being available for leasing in late spring.
For Ten on Columbia, Canter Companies partnered with InDev LLC, a private San Diego-based acquisition, development and general contracting firm, and Legacy Real Estate Ventures, a real estate investment firm.
Other Canter Projects
Canter Companies was also an early investor in a San Diego-based company called RAD LAB for its Quartyard development project. It utilizes retrofitted shipping containers as building blocks to create a temporary development in underused urban areas to act as a placeholder for future permanent developments. The containers act as popup stores for local coffee shops, eateries and more to help revitalize the location and the first site launches in downtown San Diego on March 7.
The most recent development project from Canter Companies is a two-bedroom, 1,200 square feet, three-story home at 311 Robinson Avenue in San Diego’s Hillcrest area. It is now available for sale and is represented by Denise Gomez, a real estate advisor at Advani Real Estate Group within the Canter Brokerage division.
About Canter Companies
Canter Companies, with headquarters in San Diego, CA, is a full-service investment firm focused on the capitalization of what is happening right now. Since its inception in 2007, Canter Companies has remained at the forefront of opportunistic investing. Relationships with our partners and affiliates give us the agility to entertain unique investment opportunities both inside and outside of the real estate industry. We bring investment services to the retail space and take risks alongside our investors. By bringing complementary business entities under one roof, we have built a vertically integrated structure that allows us to oversee the entire lifecycle of an investment. For more information please visit www.cantercompanies.com.