Ledcor Develops 200+ New Apartments in San Diego
San Diego, CA – Ledcor Development LP (“Ledcor”) has officially broken ground on the ALARA apartment project, a significant new development that will bring 213 residential units to the Golden Hill neighborhood of San Diego. This $107 million venture is being developed in partnership with Qualico US (“Qualico”) and Tokyu Land US Corporation (“Tokyu Land”), with Comerica Bank (“Comerica”) serving as the construction lender. The project is set to enhance the housing landscape in one of San Diego’s most sought-after neighborhoods, addressing the growing demand for modern, high-quality residential options.
A New Chapter for Golden Hill
Located at the southwest corner of C Street and 30th Street, the ALARA apartment project marks a pivotal moment for the Golden Hill community. This vibrant neighborhood, known for its historic charm and proximity to downtown San Diego, is experiencing a surge in residential and commercial development. The ALARA project is designed to complement the area’s existing character while offering a contemporary living experience.
“We’re thrilled to be breaking ground on this transformative project alongside our esteemed partners,” said John Santry, Senior Vice President at Ledcor. “ALARA will provide modern, high-quality homes to Golden Hill, addressing a critical housing need in a community eager for new residential opportunities. We take great pride in contributing to the growth of this neighborhood with a development that aligns with the city’s vision for sustainable urban living.”
A Collaborative Effort in Urban Development
The ALARA project is a product of collaboration between industry leaders in real estate development and finance. Qualico US, a key partner in this endeavor, brings extensive experience in delivering innovative residential projects across North America. Tokyu Land US Corporation, a subsidiary of Tokyu Fudosan Holdings Corporation, contributes significant investment expertise and a commitment to sustainable development.
“We are pleased to provide financing capital for this Golden Hill project with our partners, Ledcor and Qualico, and see this project come to life,” said Yoshimi Tadashi, President at Tokyu Land US Corporation. “We hope this is the first of many future investments with our new partners, and we are excited to witness the positive impact this development will have on the community.”
Comerica Bank, a leading financial institution, has stepped in as the construction lender, ensuring the financial stability needed to bring this ambitious project to fruition.
Project Details and Design
ALARA is an eight-story residential development designed to blend seamlessly into Golden Hill’s urban fabric. The project was designed and permitted under the City of San Diego’s Complete Communities ordinance, a progressive initiative aimed at increasing housing density in transit-friendly areas while promoting walkability, sustainability, and public space enhancements.
The 213-unit complex will feature a mix of studio, one-bedroom, and two-bedroom apartments, catering to a diverse range of residents, from young professionals to families seeking quality urban living. The units will be equipped with high-end finishes, energy-efficient appliances, and contemporary design elements that emphasize comfort and functionality.
Amenities and Community Benefits
ALARA is designed to offer a superior residential experience, with amenities that foster a sense of community and enhance urban living. Planned features include:
- State-of-the-art fitness center – Providing residents with a convenient and well-equipped space to stay active.
- Rooftop lounge and terrace – Offering breathtaking views of the San Diego skyline, creating an ideal space for relaxation and social gatherings.
- Co-working spaces – Catering to remote workers and entrepreneurs who require a professional yet comfortable work environment.
- Sustainable landscaping – Incorporating native plants and water-efficient irrigation systems to align with San Diego’s sustainability goals.
- Bicycle storage and repair stations – Encouraging alternative transportation options for eco-conscious residents.
Beyond the walls of the development, ALARA is expected to contribute to the neighborhood’s economic vitality. With an influx of new residents, local businesses will benefit from increased foot traffic, supporting Golden Hill’s reputation as a thriving urban enclave.
Sustainability and Smart Design
Sustainability is at the core of the ALARA project. Ledcor and its partners have prioritized eco-friendly construction practices and energy-efficient design elements to minimize the building’s environmental impact. Features include:
- Energy-efficient lighting and HVAC systems – Reducing energy consumption and lowering residents’ utility costs.
- Smart home technology – Enhancing convenience and security with app-controlled thermostats, keyless entry, and real-time energy monitoring.
- Water-saving fixtures – Helping conserve resources in a region known for its water scarcity challenges.
- Solar-ready infrastructure – Allowing for future integration of renewable energy sources.
By adhering to the City of San Diego’s Complete Communities ordinance, ALARA aligns with the broader urban planning strategy aimed at reducing carbon footprints, decreasing reliance on automobiles, and fostering pedestrian-friendly environments.
Projected Timeline and Future Impact
Construction is expected to take approximately two years, with the first rental units anticipated for delivery in the first quarter of 2027. Once completed, ALARA will not only provide much-needed housing but also set a benchmark for future developments in San Diego.
The project represents a step forward in addressing California’s housing shortage, particularly in high-demand urban areas. As cities like San Diego continue to grow, developments like ALARA play a crucial role in expanding housing supply while maintaining a commitment to sustainability and community enhancement.
