The Daily Transcript: Liberty National planning high-rise apartment complex downtown
Daily Transcript Staff Report
Scripps Ranch-based multifamily developer Liberty National Corp. has completed the purchase of a 15,000-square-foot site in downtown San Diego, where it plans to develop a Class A project known as “Skyline West.”
The mixed-use tower at the corner of Fourth Avenue and Ash Street will offer 250 luxury apartment units as well as a retail/restaurant space on the ground floor.
Liberty National purchased the property from Nellis Corp., a private investment company, for an undisclosed sum.
Liberty National owns a number of apartment communities throughout the Southwest, and has several urban high-rises in development or in the construction phase.
The 37-story Skyline West tower will be approximately 380 feet high. It will feature one-, two-, and three- bedroom floorplans, ranging in size from 550 to 1,600 square feet.
Shared amenities will include a fitness center, swimming pool, spa, lounge, conference rooms, business center, library, pet grooming room, and billiards. All units will have energy-efficient appliances, private balconies, and high-end finishes. The development will also feature sustainable components and be built using LEED standards.
“This site was an attractive acquisition because of its walkability to the shopping, restaurants, and cultural draw of Little Italy,” Liberty National founder Mark Schmidt said in a statement.
Liberty National finalized the acquisition in November 2021, and recently assembled its team for the Skyline West development, including an architect, structural engineer, and geotechnical engineer, all of whom were not identified.
The company anticipates submitting development plans to the city of San Diego by next summer with construction targeted to begin in the summer of 2024.
Liberty National is a multifamily residential developer that specializes in site acquisition, entitlements, and finance. The company is a long-term investor in its communities, choosing to hold and maintain many of the apartment communities it builds from the ground-up.