Oct 15, 2015
SAN DIEGO—Locally based real estate development and investment company Zephyr’s expansion into the Park (for which George Smith Partners recently secured $39.7 million in development financing), the Block, Signature Homes and Dana Point reflects its desire for “rare, exciting and sometimes challenging opportunities,” co-CEO Brad Termini tells GlobeSt.com. We spoke exclusively with Termini about the wealth of new projects and other changes for the company.
GlobeSt.com: Tell us about the projects you’re expanding into, including the Park, the Block, Signature Homes and the 9-acre parcel in Dana Point.
Termini: We actually just broke ground on The Park, our new high-rise development in Bankers Hill that will feature 60 high-end condominiums and townhomes, plus two retail spaces, just across the street from Balboa Park. We’ve worked closely with acclaimed architecture firm Dialog to create homes for the high-end buyer who’s accustomed to top-of-the-line everything. The 14-story building embodies luxury, with features like direct elevator access to most residences, sophisticated open floor plans, oversized terraces with fireplace, gourmet kitchens, master baths and en-suite baths and soaring ceilings. Homeowners will even have exclusive access to two guest suites for visiting family and friends. The Park will also offer buyers an urban atmosphere, while still having the green and open space surrounding them, as the homes average 2,765 square feet per unit of indoor/outdoor living space. Prospective owners can get a sense for what life at the Park will be like at the Discovery Center, which we opened earlier this year. They can see a mock model, take a virtual tour, see the views and view a scale model of the property.
Our Signature Homes are incredible examples of custom-spec homes done right. Currently, we have homes complete and under construction in Coronado, Del Mar, Leucadia, Carlsbad and Rancho Santa Fe, with plans for additional homes in the coming years. For each site location, we identified San Diego’s most desirable residential areas by examining their geographical footprint, which encompasses views, walkability, available square footage, proximity to neighborhood amenities and the local community. We then worked with the best architects, designers and so on to build homes that are truly one-of-a-kind and impeccably executed.
Our venture into Orange County is emblematic of how much our company is growing. Earlier this year, we acquired a nine-acre parcel in Dana Point for $50 million, with plans to develop a mixed-use community on the property. Adjacent to Doheny State Beach and Dana Point Harbor, the project will include 168 high-end townhomes and seven mixed-use structures situated in one of the most coveted areas of Orange County. Owners will be able to walk to the beach and harbor, golf, and shopping and dining options are just minutes away. The development of the community—the first product of its kind to be built in the region in more than 10 years—will accelerate a revitalization that is already well underway in Dana Point. With the revamp of Dana Point Harbor, Downtown and other major renovations in the area, we knew this was an ideal location for our project and are confident it will bring new energy and economic opportunities to the region.
Finally, earlier this year, we purchased one of the last remaining full blocks of available property in downtown San Diego—a 60,000-square-foot site on Broadway between 7th Ave. and 8th Ave.—with plans to develop the Block, the city’s first high-rise, mixed-use project since the recession. The site is one of the few remaining underdeveloped areas in downtown’s core. And, after studying the layout of other major urban areas like Los Angeles, San Francisco and Seattle, we think this project will accelerate the transformation of Downtown San Diego as it continues to evolve into a more walkable and accessible neighborhood. The zoning allows for development up to 750,000 square feet, and we’re moving towards breaking ground at the end of 2015.
GlobeSt.com: What’s behind all the new projects?
Termini: We’re continually seeking out the untapped potential of rare, exciting and sometimes challenging opportunities, with the goal to transform them into homes and communities that are just as unique as the people who live in them. It’s our passion and a privilege we get to realize every day. These and future projects are a reflection of that drive to tackle new benchmarks and our vision for creating the exceptional.
GlobeSt.com: You recently hired four new executives and promoted one. What spurred this staff growth?
Termini: Well, as you can see, we have multiple large-scale projects in the works, and we’re not planning on slowing down anytime soon. Our newest team members bring a wealth of experience, energy, passion and ingenuity that’s essential to everything we do. They’ll play key roles in advancing our goals.
GlobeSt.com: What else should our readers know about your firm?
Termini: We have an exceptional core team, with a long history of success and more than 200 years of unrivaled experience in residential, commercial and industrial development. Since our start in 2008, we’ve already completed over $750 million worth of residential developments—all of which have been designed with our buyers’ needs and desires in mind. We’re proud of our work, and know our buyers are, too.
Thank you for your registration. A Zephyr team member will be in contact with you shortly to answer any questions you have have about our communities or company.