Grossmont Transit Station - Alterra and Pravada Apartments
Client: City of La Mesa and Metropolitan Transit System (MTS)
Keyser Marston Associates, Inc. provided advisory servics to the City of La Mesa and teh Metropolitan Transit System (MTS) in support of long-term planning efforts to faciliate infill Transit Oriented Development near the Grossmont Transit Station, which is a key transfer point in the San Diego trolley network.
Specifically Keyser Marston assisted the public agencies in the financial analysis, developer solicitation and selection, and subsequent negotiations relating to development of a mixed-income apartment community along with 2,600 SF of ground floor commercial retail on an 8.5-acre site adjacent to the Station. The selected developer was Fairfield Residential, LLC. The two apartment complexes, Alterra and Pravada, include 527 apartment units, 15% of which are reserved for a mix of very low and moderate income households. The ground floor retail space is oriented to the trolley platform, thus integrating the public and private uses; additionally a 1,400-space parking garage was built to serve residents, retail uses and trolley patrons.
The Prada apartment development opened in 2008, while Alterra opened in 2009,