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Updated over 6 years ago on . Most recent reply
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Add Residential Units To Existing Mixed Use Zoned Property (CA)?
I am getting ready to make an offer on an existing mixed use property that is zoned for storefront retail + residential units in San Diego, California. Does anyone have a private lender that will lend on the acquisition of the property and provide funds to pay for permitting, legal, architect, structural engineering, demolition work, etc. to add residential units to the second floor (possibly adding a third floor, checking on height restrictions)? We are commercial general contractors and demolition contractors. Will sell to investor groups after completion.
Any other advice in general on a mixed use redevelopment (what I call repurposing) project is much appreciated.
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Originally posted by @Christian Kurt:
Any other advice in general on a mixed use redevelopment (what I call repurposing) project is much appreciated.
Since you are a commercial GC you are probably aware of all this but mixed use requires fire rated separation btw occupancies, and the commercial most likely requires full NFPA 13 sprinkler system. One way around those requirements is to convert the commercial spaces to live/work units but those are limited to uses like hair salons, office, shops, etc so no restaurants/bars.