Irvine-based Shopoff Realty Investments secured unanimous Chula Vista city council approval for its 141-unit Moss Street Townhomes development.
Shopoff Realty Investments Secures Unanimous Planning Commission Approval for Chula Vista Residential Project
Chula Vista, Calif. – July 27, 2020 – Shopoff Realty Investments (“Shopoff”), a national manager of opportunistic and value-add real estate investments, announced today that its 141-unit Moss Street Townhomes project in Chula Vista, California has been unanimously approved by the city’s planning commission, with a 5-0 vote in favor of the project.
Located at the intersection of Moss Street and Industrial Boulevard, the property is comprised of 6.91 acres of land and is located less than two miles from the Chula Vista Marina. The site is currently used for light industrial and features three existing buildings totaling approximately 37,100 square feet of space, with tenant leases expiring shortly.
“This property is located in a prime coastal location within a transforming area of Chula Vista,” said Shopoff Realty Investments president and chief executive officer, William Shopoff. “With the Bayfront Hotel and Convention Center project underway less than one mile from the site, this location will be ideal for new housing, filling a great void in this area.”
The now-approved plans provide for a three-story attached townhome development, featuring 141 units within a gated community.
Brian Rupp, Shopoff’s executive vice president of development added, “The City of Chula Vista was very receptive to our vision for the project and we worked closely with city staff to ensure that this project would meet the needs of this growing city. Our next step is to go before the city council on August 25th.”