Richman Gets Green Light for High-End Downtown Project

A new luxury apartment building is set to take shape in downtown San Diego as approvals are now in-place for a brand new project. The development is The Richman Group of California LLC’s third project in SoCal, since its foundation just one year ago. The other two multifamily residential/mixed-use projects by the company to be approved by government agencies are located in Orange County and L.A.

After winning the nod from San Diego’s redevelopment agency, the Richman Group of California L.L.C. plans to launch construction early next year on a 99-unit downtown luxury apartment complex. Known as F11, the project marks the third for The Richman Group Development Corp.’s new California affiliate.

Located on the north side of F Street between 11th Avenue and Park Boulevard, F11 will comprise three seven-story towers situated around a pool and plaza. Residences will include 37 studios, 11 one-bedroom apartments and 51 two-bedroom units. The complex will also contain 5,644 square feet of commercial space. Amenities will include a pool, exercise facilities and bowling alley.

Richman added in a statement that it is teaming up on the project with Shearn Platt, an investor and retired attorney. F11′s design team includes Nexus Planning Consultants of San Diego, architects DesignARC of Los Angeles, and landscape architects Wimmer Yamada and Caughey of San Diego. Civic San Diego, the city’s redevelopment agency, approved the project during the last week of February.

Since its debut last year, Richman’s California affiliate has created a $150 million development pipeline. Also in the works are a 95-unit affordable senior housing community in Fullerton, on track for completion in the spring of 2016, and a 132-unit high-end multifamily project in Cerritos, scheduled to break ground this year.

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