SAN DIEGO--(BUSINESS WIRE)--Aug 26, 2024--
San Diego City Councilmember Vivian Moreno cut the ribbon last week at the newest multi-family community Atlas West Group is building in the city.
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Councilmember Vivian Moreno with Atlas West Group’s CEO Daniel Shkolnik and VP of Acquisitions, Trent Hullen (Photo: Business Wire)
The Atlas at Desty, a community in the Otay Mesa-Nestor neighborhood of San Diego, is situated in Moreno’s city council district, close to Imperial Beach.
Multi-family community developments like this one have become essential in providing diverse housing options for different income levels and family sizes in San Diego. These new properties promote sustainable growth by using land and resources efficiently, helping more people find affordable, high-quality homes.
Atlas West Group’s CEO Daniel Shkolnik thanked Councilmember Moreno at the ceremony for being a housing champion and helping to clear the way for multi-family communities like this one.
“You’ve been a huge friend of housing,” Shkolnik told Moreno. “You’ve innovated a lot in your district. You really get it. It’s a tough fight. It takes a lot from both elected officials and staff, and as you’ve said, you’ve taken the heat in order to help keep San Diegans in San Diego. That’s commendable and notable, and you’re now here really seeing your policy changes at work. You’re creating homes for people, so thank you.”
Councilmember Moreno thanked Atlas West Group for including her in the ribbon cutting and for their ongoing commitment and investment in San Diego.
“The city continues to face a housing crisis. Homes that are affordable to middle-income and low-income families are not built at the rate needed to support San Diego’s housing needs. This makes housing options for working San Diegans more expensive,” Moreno said.
“I want to thank Atlas West Group for investing in Otay Mesa and building homes for people who want to live and work in this community. This project really shows how we can deliver homes that people can afford when we work together.”
Also attending the ribbon cutting ceremony were Trent Hullen, VP of Acquisitions for Atlas West, and Sasha Demi of Atlas West.
The new community is expected to be complete in the spring of 2025. Units will range in size from 500 to 1,100 square feet. All units feature modern finishes with stainless steel appliances, high ceilings, and private outdoor spaces. The community features a secured entrance, outdoor communal spaces, and parking. The units are expected to rent from $2,250 to $3,800. Atlas West will manage the community.
The First
An innovative company, Atlas West is one the first home builders to build deed-restricted units without public subsidy in Southern California, and the first to take advantage of the City of San Diego’s ADU Bonus Program, approved in 2020. The company’s first development was completed three years ago: a modern six-unit complex on 49th Street in Talmadge. Today, Atlas West’s work is routinely held up as a model, paving the way for other developers to create homes that San Diegans can afford. AWG owns, operates and manages all of its properties.
- Atlas West, or AWG, has 22 projects in various stages of development and a portfolio of more than $90 million in San Diego.
- Roughly 40% of AWG units are designated affordable for working families in order to satisfy the significant demand for middle-income housing in San Diego.
- Sometime next month, AWG will surpass 170 units, and the company is on track to break $100 million in development in 2024.
ABOUT: Atlas West Group is a privately held full-service development and investment firm operating throughout San Diego County. The company is a premiere provider of urban-infill housing and specializes in transforming underutilized properties into vibrant multifamily communities. Atlas West utilizes innovative permitting programs and creative construction strategies to bring out-of-the-box solutions to the region’s housing shortage and affordability crisis. The Atlas West team brings decades of experience to real estate development projects, giving the firm the network, reach, and insights needed to navigate complex situations and deliver results.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240826444858/en/
CONTACT: Tony Manolatos
tony@manolatospa.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY STATE/LOCAL
SOURCE: Atlas West Group
PUB: 08/26/2024 08:00 AM/DISC: 08/26/2024 07:59 AM
http://www.businesswire.com/news/home/20240826444858/en
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