San Diego-based RAF Pacifica Group recently acquired a 40,000-sq.-ft. land parcel (formerly the site of Cedros Gardens), in the Solana Beach section of San Diego for $5.5 million from a private owner.
The firm plans to develop 26,000 sq. ft. of the property, located within the rapidly growing Cedros Design District. The upscale community is known for its two-and-a-half-block, open-air shopping district housing yoga studios, eateries, galleries, and weekly farmers market.
“The opportunity to acquire land that is fully entitled in the heart of such a vibrant district enables us to create a true lifestyle destination that will support Solana Beach’s ongoing revitalization and drive future economic growth” said Adam Robinson, founder & principal of RAF Pacifica Group.,
Plans call for 3,200 sq. ft. of high-end restaurant space, 5,000 sq. ft. of ground-floor retail, 8,000 sq. ft. of high-quality office space, and eight multifamily units close to the COASTER commuter train.
RAF Pacifica Group plans to work with Sean MacLeod, a Solana Beach-based developer who originally secured the entitlements for the land parcel.
The Cedros Avenue project will break ground in 2017, with an estimated completion date in 2018.