Local real estate developer Foley Development has begun construction to transform the former San Diego Daily Transcript building into a 150,000-square-foot mixed-use center comprised of office, multifamily residential and retail.
The project, located at Third Avenue and Ivy Street in the
The San Diego Daily Transcript occupied the building for more than three decades until October 2015.
Rancho Santa Fe resident Tim Foley, founder and CEO of Foley Development, said that the completed project will have 99 luxury apartments and a large parking structure for residents and office and retail workers. The apartments will be called Bay View, while the rest of the project will be known as the Foley Financial Center.
“This is a 100 percent full renovation with everything new in big open floor plans with lots of light and great views, not to mention the best location in Bankers Hill being just a few blocks from Little Italy; and we will have the most parking in the market.” Foley said. “We only started showing the building recently. There’s a pretty large demand for a Bankers Hill address with good parking.”
As exposure for the site rises, so does interest from potential tenants of the existing building.
This is just one of several redevelopment projects Foley Development currently has in progress in and around San Diego, including a mixed-use project on Fifth Avenue with restaurants, apartments and commercial space along with seven other ground-up developments.