   Glenn Wilbor, chief executive, and Greg Paquette, in-house broker, at California Equities. (photo/lambertphoto.com)
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New to both the Downtown market and residential development, California Equities is looking to use space, greenery and innovative parking to make its mark on urban housing.
On the edge of Downtown, the company has broken ground on its first project, Bohemia, in Barrio Logan. Each of the 14 units comes with a garage that is equipped with a parking lift, allowing for one car to be stacked atop another. This is the first project approved by the city of San Diego where lifts are used to meet each unit’s parking requirements. “One of these advantages is that it allows us to secure the density that we need to build the development,” says Glenn Wilbor, the firm’s chief executive.
Taking the success of this parking idea and driving it Downtown, future California Equities projects such as Ballpark Skylofts and Primus also will include automated parking.
The company also is careful about what is used to construct its projects. “We use sustainable materials like concrete, wood, stucco and solar cells,” says Wilbor. For example, floors are made from bamboo, since that is readily available and can quickly be regrown.
In nine months, work will begin on Ballpark Skylofts at 15th and Market streets. Offering 16 units, the project is designed to appeal to young families, young professionals and people trading up. Each one-bedroom unit will be about the same size as most two-bedrooms and high ceilings will lend the feeling of more space. Parking will be provided in semi-automated stacks. “Unlike Bohemia, where you have to pull out the bottom car to lower the top, (the car) goes into a pit and you can lower the one on top,” Wilbor says. No shuffling one out to get to the other. Prices range from $400,000 to $1 million.
Construction begins on Primus in about 12 months. To reduce heat, grass and trees will be grown on the roof. This high-end project will offer three or more bedrooms a unit. Every floor is a unit and the parking structure is fully automated, stacking cars like a CD changer. “When you want it, you just click it and two minutes later your car pops out,” says Greg Paquette, the firm’s in-house broker. Priced from $200,000 to $3.5 million, target buyers include baby boomers and second-home investors.
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