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Case Study

JLL transforms San Diego’s East Village with mixed-use project

​​​Lowe Enterprises engaged JLL to locate an equity partner for the IDEA1 mixed-use project in San Diego's East Village.

JLL's team included experts from Agency Leasing and Capital Markets professionals focused on office, multifamily and debt and equity financing to advise on development funding needs.

As the project evolved, the office component morphed into retail and restaurant space, with a requirement for residential live/work lofts that would give entrepreneurs the ability to create small businesses in the same building where they live. These adjustments required flexibility and creative input from the experts on the assignment. JLL's collaborative platform of specialties allowed the team to quickly pivot the search to multifamily developers without losing any momentum of interest in this excellent East Village site. 

With the redesigned project finalized, JLL identified partners to provide equity for this game-changing development that will transform an entire city block into creative mixed-use space, encouraging interaction between residents and the larger downtown San Diego East Village community.

Familiar with LaSalle Investment Management's success in downtown San Diego and the firm's passion about the future of the East Village, JLL identified them as Lowe's equity partner. Additionally, JLL sourced BMO Harris to provide a construction loan, for a combined total of $88 million in debt and equity for the project.

Today, the plans for IDEA1 include:

  • 295 studio, 1-bedroom, 2-bedroom, and ground floor live/work units

  • 13,000 square feet of commercial space

  • Retail and ground level restaurant space

  • Access to co-working space, an exercise room and event kitchen

  • Clubhouse and rooftop pool

  • The Hub, a large outdoor courtyard with flexible collaborative space for meeting and entertaining

For more information on IDEA1, click here or learn more about how the  Capital Markets team in San Diego can help you achieve your creative commercial real estate needs.

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