San Diego Real Estate Development

Owner Adds Affordable Housing to Pacific Village Plans in Rancho Penasquitos

The 332-unit Penasquitos Village apartment complex in Rancho Penasquitos is a quiet San Diego rental community nestled between Black Mountain Park and Interstate-15. You can’t rent a unit there, however, because since early 2016 property owner Atlantic & Pacific decided they wanted to raze the complex and replace it with 564 high-end units. Since then, a battle has been brewing to determine if that plan will ever go through.

The new residential community, dubbed Pacific Village, was briefly removed from city agendas. However, Atlantic & Pacific and development partner Lennar Homes are back with new and improved plans that they hope will win over critics and allow them to move forward with the redevelopment.

Per KPBS, the new plan calls for 600 homes, including 99 single-family homes, 105 triplex homes, 120 townhomes, and 276 apartments. Sixty apartments will be set aside for low-income residents at below-market rent. Previously the plan only called for 28 such units.

The other big addition to the plan is a relocation package offered to current tenants. All residents who move out before demolition would receive a discounted moving rate with a local company as well as free moving boxes and packing tape. Those who already moved out will be offered cash to offset the increase in rent they’ve paid since.

Atlantic & Pacific has also pledged to make sure tenants who receive federal Section 8 housing vouchers will be first in line for the 60 low-income units in the redevelopment or will have access to units like them in other properties. The developer also added that construction will not commence until all 80 tenants who meet this criteria are set up with new living arrangements. 

The developer told KPBS that for-sale homes in Pacific Village will have opening prices below the San Diego County median price for newly constructed homes. An initial hearing about the project before the San Diego Planning Commission is set for Dec. 7.

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