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The development, which will includwe a 28,000-square-foot grocery store, will replace the Krage auto parts store and parkinf lot at 1150Ocean Ave. The 1.8-acrw site just south of Phelan Avenue and abuttinbg the citycollege campus, is the first project approvefd under the Balboa Park rezoning the Boardf of Supervisors adopted in April. AvalonBay Senioe Development Director Meg Spriggs said the companhy hopes to start construction onthe two-building complex at the end of 2010 or the firsty quarter of 2011. Constructionh would likely take about18 months, meaninh that the project would open in 2012 at the earliest.
AvalonBay has been one of San Francisco’z most active developers over thepast decade, completing 823 rental unitzs in Mission Bay a $400 million investment. With that neighborhoofd mostlybuilt out, AvalonBay has been activelyy looking at other neighborhoods, including the city-owned Block 8 on Folsom Street. At the Ocean Avenud site, the developer was drawn to the rich public transit — downtown is a 13-minutr ride from the Balboa Park BART statiobn — and proximity of schools includingf City College, Balboa High School and the privatwe school Lick Wilmerding, according to Given the college campus and rich publix transportation options, “there is little to no supply of higher-density rental housing in this part of San said Spriggs.
“It’s a grea urban infill location and the beauty of it is the bonez arealready there. The infrastructure is already there. Ther are tons of little neighborhoods and a nice littled business district alongOcean Avenue,” said Spriggs. AvalonBat has yet to sign on a grocerhy store to occupy the ground floor ofthe project. Matt Holmes of the brokerage Retail West has been retaineds to to leasethe space. Petet Waller of Pyatok is the architect. “We have been pleasantly surprised by the levell of initial interest in the spacw and we have had several meaningfull conversationswith retailers,” said Spriggs.
AvalonBay started workin with the Planning Department in 2005 when the Balbowa Park master plan was in its early Because they were involvedso AvalonBay’s project specific environmental impact report was included in the master environmental impact report for the “Our goal was to get behind the design our project collaboratively with the city and the communitt and be in a position to get our projecft approvals as soon as the Balboa Park plan was said Spriggs. Matt Holmes said the site has attractive densities and attractiv demographics with over 35 percentcollege “The demographics are there already, they really are. The design of the spacee is outstanding.
They have reall y built a great mousetrap he said.
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