KRC – One Paseo Mixed-Use Development – California - Project Profile
"KRC – One Paseo Mixed-Use Development – California - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Kilroy Realty Corporation (KRC) is undertaking the One Paseo mixed-use development project in California, the US.
The project involves the construction of mixed-use facilities on 93,077m2 land. It includes the construction of a six-story corporate office facility on 26,013m2 area, a small professional office facility on 2,787m2 area, 608 residential units on the 74,322m2 area.
It includes the construction of market, one story retail store on the 8,825m2 area, a 150-room hotel, 4,000 parking spaces in three story underneath the buildings, high-end shops, restaurants, a park and a convention center.
Elkus Manfredi Architects has been appointed as architect for the project and TCA Architects for residential. Carmel Valley Community Planning Board held a public meeting to receive public opinion on the project on September 26, 2011.
On September 11, 2014, the Carmel Valley Community Planning Board rejected the project plans, but the board said it would support a reduced mixed-use alternative that cuts the development down by half.
In October 2014, the Carmel Valley Community Planning Board reviewed the project plans and forwarded the project to San Diego City Council for the final decision.
On March 9, 2015, San Diego City Council has given final approval for the project implementation; however the opponents of the project have filed a petition against the council's decision.
On May 21, 2015, San Diego City Council has voted unanimously to repeal its approval of the controversial project. The Council was asked to either rescind it or put it out to a public vote. Before the Council could decide, the developer and critics expressed their willingness to work out a compromise.
On August 19, 2015, a new scaled-down version was presented that shrinks the square footage by about 25 percent but promises a 45-percent reduction in traffic.
On June 27, 2016, KRC secured approval from San Diego City Council.
In December 2016, the groundbreaking ceremony was held with the commencement of construction on the project.
Construction works are underway on the project with residential units to be completed by June 2019 and office by fourth quarter 2019.
The project involves the construction of the mixed-use facility on 93,077m2 land at El Camino Real and Del Mar Heights road in San Diego, California, the US.
The US$660 million project includes the following:
1. Construction of a six-story corporate office facility on 26,013m2 area
2. Construction of a small professional office facility on 2,787m2 area
3. Construction of 608 residential units on 74,322m2 area
4. Construction of a market
5. Construction of a one-story retail store on 8,825m2 area
6. Construction of a 150-room hotel
7. Construction of 4,000 parking spaces in three story
8. Construction of high-end shops
9. Construction of restaurants
10. Construction of a park
11. Construction of a convention center
12. Installation of elevatorsReasons To Buy