Chicago developer opens $75M community in San Diego | Multifamily Dive

Oct 15, 2024

The Nash is CedarSt’s first Southern California property and the next step in its West Coast expansion strategy.

Flats LLC

Property: The NashDeveloper: CedarStArchitect: Studio ELocation: San DiegoUnits: 190Cost: $74 million

Chicago-based developer CedarSt Companies has taken the next step in its West Coast expansion with the opening of its first Southern California property — The Nash, a 190-unit, seven-story mixed-use development in San Diego’s University Heights neighborhood.

The project, which broke ground in May 2022, is a bright white U-shaped structure with a setback in the center for the pool deck and recessed balconies across the facade, designed by San Diego-based architect Studio E. The ground floor facing the street is inspired by the look and function of high-end hotel lobbies, according to a news release shared with Multifamily Dive.

The coworking lounge in this area is open both to residents and to the public, and includes seating areas, complimentary Wi-Fi, a private conference room and a 2,100-square-foot restaurant with patio seating.

Units at The Nash range from studios to two-bedroom apartments, 400 to 800 square feet in size, with walk-in closets, glass rainfall showers, in-unit laundry and modern kitchens. Nearly half of the units have full balconies, while the others have Juliet balconies over sliding glass doors.

In addition to the coworking lounge, resident amenities include a rooftop deck; a fitness center; an open-air game room; an outdoor pool and hot tub with cabanas, smart TVs and a wet bar; pet-friendly areas and outdoor kitchens. Parking is available for 152 vehicles, along with bike storage. Chicago-based ProperXPM manages the property under its FLATS brand.

CedarSt has a total of 7,000 apartments in various stages of development across eight states, valued at $4 billion, according to the release. Its West Coast pipeline makes up nearly a third of that number, with 2,225 units across nine projects at an estimated value of $956 million, according to CedarSt spokesperson Carissa Rosenthal.

Alongside San Diego and Southern California, the developer’s target West Coast markets include Las Vegas and Vancouver, Washington, according to Rosenthal.