US$100mn San Diego Greystar luxury apartment complex nears completion

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525 Olive, a 204-unit luxury apartment complex in San Diego under construction by Greystar, in collaboration with St. Paul’s Episcopal Cathedral, is nearing completion. The developer expects to complete the $100.2 million project in April, with rentals beginning at $2,440 per month. According to Yardi Matrix data, the business has acquired $85.7 million in pre-construction finance from Capital One. Greystar Construction Group is the general contractor, with Joseph Wong Design Associates as the architect and Jules Wilson Design Studio handling the interior design.

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The Greystar 20-story luxury apartment complex at 525 Olive St, San Diego is situated on 0.6 acres and features studio, one-, two-, and three-bedroom apartments, as well as penthouse suites ranging in size from 533 to 1,625 square feet and including wood flooring, private patios, keyless entry doors, and quartz countertops. Eighteen of the 204 flats will be reasonably priced. A rooftop lounge area with a snack bar, a rooftop pool, a fitness studio, courtyards with outdoor seating, a dog run and pet spa with grooming services, and a business lounge with conference rooms are among the community facilities. The church will occupy 10,000 square feet on the first floor, 8,500 square feet on the bottom level, and a portion of the subterranean parking garage as part of the cooperation with St. Paul’s Episcopal Cathedral.

More on the Greystar San Diego apartment complex

In prepared remarks, Greystar Director of Development Raul Tamez stated that the neighbourhood is the city’s answer to New York’s Central Park lifestyle, giving the city, park, and bay vistas. The property is located in the Bankers Hill neighbourhood, across from Balboa Park, and within a mile of the San Diego Zoo, San Diego Museum of Art, and Japanese Friendship Garden. The premium community is less than 1.5 miles from downtown San Diego, Little Italy, and the Hillcrest neighbourhood, and is near to a variety of shopping and entertainment opportunities.

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