Projects
We look to provide middle income housing that creates a healthy environment and thriving communities that will serve to enhance the qualify of life of all residents.
Current Project: Hillside
Location: Morena/Linda Vista
Units: 94
Break Ground: December 2024 (estimate)
Completion: June 2026 (estimate)
Stabilize: September 2026 (estimate)
Hillside
Innovative mixed-income apartment building that contains 94 units within the Morena/Linda Vista neighborhood of San Diego. Nestled in the vibrant community surrounding the prestigious University of San Diego, this prime location offers a unique opportunity for a dynamic multifamily redevelopment project.
Situated just minutes away from the university campus, this property benefits from the energy and vitality of the academic environment while providing a convenient and desirable living space for students, faculty, and professionals alike.
Acquisition
In 2020-2021, a zoning ordinance entitled “Complete Communities” worked its way through the San Diego review & approval process. It was reviewed and commented on by every governing and advisory organization involved in the San Diego development process.
This included neighborhood community planning bodies and grass root organizations to the Planning Commission and City Council. In short, it permits developers to opt into a floor-to-area (FAR)- based density bonus program with a certain layer of affordable housing determined/calculated on the base zoning. During COVID (Q2-4, 2020), Akaw Development focused on identifying an asset in a pocket of San Diego that had the lowest base zoning and would be subject to the highest attainable increase via this ordinance. The development will include 94 multi-family units with only 8 affordable units required, 3 of which are at 120% AMI. The Hillside development plan is focused on delivering a preeminent product for the neighborhood with an amenity that is curated to the site’s location with the building positioned to capitalize on the best views Morena/Linda Vista has to offer.
Timing
Since acquisition in November 2021, Akaw Development has since added an additional 7,700 square foot parcel pushing the unit count from 42 to 94. Akaw Development has continued to cashflow the property from the carried month-to-month leases covering the service of the land and a portion of the predevelopment costs. Concurrently, predevelopment of the project has progressed, and our building permit was submitted in November of 2022. Because the project is below 95 feet, we were able to submit directly to building permit under the Complete Communities program. Akaw Development expects project completion / delivery by the end of June 2026 and stabilization by the end of September 2026 based on a market absorption of 24-30 units per month.
Amenities With a View!
Sitting on the hilltop, the property will have incredible views of Mission Valley and beyond.
Property Features
Value Engineered Floor Plan
Hillside has gone through meticulous pre-construction planning to optimize space, bring efficiencies through material choices and technology.
Energy efficient building
Using latest electrical energy saving techniques, Hillside provides not only an energy efficient building but operational expense efficiencies.
Resident friendly building
Hillside provides tenants a secure environment with the latest in building access technologies, an e-bike room and incredible 3000 ft amenity deck
Download Our Hillside Brochure
Garden Experience
