Jacob Schwartz of Urban Coastal Development will be presenting HUE, a micro-unit, adaptive reuse project in downtown San Diego. A former office building originally built in 1989, the 939 4th Avenue building is well-positioned to be repurposed into a micro-unit residential product. The 23,500 sq. ft. 4-story, Type III office building looks right into Horton Plaza Park. The popular Rei Do Gado Brazilian Steakhouse is located on the first floor as the street-level tenant. Executive office suites were originally leased on a month-to-month basis to a variety of small businesses on floors 2, 3, & 4. Modern steel framed construction is ideal for adaptive reuse from office into multifamily. The key feature of the asset is the Lightwell: a 40’ wide x 35’ high x 5’ deep “artificial courtyard” that the developer cut into the building to allow units along the southern property line to have exterior windows. Large format high-resolution view photos with LED lighting that change color hue according to the time of day with give those units “faux views” of special places in San Diego.
With its central location within San Diego’s premier Gaslamp District and with the anticipated reposition of Horton Plaza, 939 4th Ave. will see strong demand.