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SAN DIEGO'S TALLEST RESIDENTIAL TOWER NOW NEARLY 60 PERCENT LEASED




45-Story Pinnacle on the Park Tower Nears Completion

January 8, 2016

San Diego-based Sunrise Management has announced that the first tower at Pinnacle on the Park – a high-rise community now under construction in downtown San Diego – is now nearly 60 percent leased. At almost 500 feet tall, the building is downtown San Diego’s tallest residential structure.

Located in the heart of San Diego’s burgeoning East village, the multifamily community will encompass two 45-story towers.

According to Melissa Deen, vice president of marketing for Sunrise Management, her firm just completed the first phase of lease up and began leasing in August for the first 45-story, 484-unit tower at 424 15th St in San Diego. “We have exceeded our lease up schedule – successfully transitioning the property for owner management – leasing more 260 units in under five months,” she said. “Our sales and marketing strategy has surpassed all expectations, and the demand for this project continues to be remarkable.”

When complete, the Pinnacle on the Park community will yield 965 multifamily units and 17,000 square feet of commercial/retail space in the dual 45-story towers. Construction on the first high rise is slated for completion this month and the second tower will begin construction next year.

Deen says she is not surprised at the community’s resounding success. “The East Village is San Diego’s most rapidly growing neighborhood – emerging as a hub for urban living with new restaurants, rooftop bars, boutiques, luxury hotels, live music venues and more – and residential real estate here is in hot demand,” she said. “Pinnacle on the Park’s walkable location, views and amenities are perfect for urban-minded residents who want to have a huge selection of dining, sports and shopping close to home.”

The new community features numerous amenities including a lap pool and spa; a 24-hour resident fitness center; underground-gated parking; a clubhouse with a gourmet demonstration kitchen and oversized projection screen; resident lounge; and an onsite concierge.

An added benefit for residents: the community’s new Fault Line Park – named after the Rose Canyon Fault, which runs underneath – an urban oasis with multiple play areas, multipurpose lawns, gardens and public art. The 1.5-acre East Village facility is the first public park to open in the neighborhood since 2004.

Each one-, two- or three-bedroom floor plan offers a modern kitchen with island or breakfast bar, stainless steel appliances, designer finishes with granite countertops; ceramic tile and wood-style flooring; washer and dryer; and expansive, private balconies offering sweeping downtown views.

San Diego’s East Village, the city’s largest downtown neighborhood, is home to 700 businesses, including Petco Park.

For more information visit www.sunrisemgmt.com

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