Sandor Shapery, the local real estate developer who previously owned 101 Ash St. and had hoped to author a redemption story for the office tower, offered to pay $35 million to buy back the physically and politically tainted building from the city of San Diego earlier this month.
The downtown high-rise could be converted into nearly 400 units of affordable housing if the mayor and City Council can agree on a deal with La Jolla-based Reven Capital.
The first homeless shelter in Oceanside has opened its doors to residents. In other news, a San Diego-based developer wants to convert the city-owned office building at 101 Ash Street into affordable housing. Plus, we have details on some arts events happening in San Diego County this weekend.
The city of San Diego will enter into a 90-day negotiation period with La Jolla-based Reven Capital, a real estate investment management firm proposing a nearly 400-unit housing project in place of the empty office tower at 101 Ash St.