OB’s Mariner’s Cove Set for Redevelopment

by on November 11, 2020 · 2 comments

in Ocean Beach

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It looks like Mariner’s Cove – that complex of 500 two-story apartments along West Point Boulevard – will get a “redo” with the addition of 272 more units. The large-scale apartment redevelopment project will be presented to the Ocean Beach Planning Board at its early December meeting. The complex’s 31 acres is actually part of the District 3 OB Planning Area.

The project was presented as a matter of courtesy to the Midway planning committee six months ago.

Andrea Schlageter, OBPB chair, was quoted in the Beacon:

“The Mariner’s Cove project will be appearing on the Dec. 2 agenda. I am getting a lot of community interest in the project and I expect a robust discussion around Mariner’s Cove. I want to make sure it gets the time and attention it deserves.”

Apartment Investment and Management Co. or Aimco, has owned the property since 2002. Built in the 1980s as affordable housing, they represented a census tract that allowed OB to receive federal funds through the Community Development Block Grants.

Each two-story building has 16 units apiece – all settled among large trees, grassy lawns, meandering cement walks, and parking lots. This area – although legally part of OB – doesn’t seem like OB when you’ve walking through it. Until you realize the San Diego River is right there and so is OB’s freeway. The east side of Mariner’s Cove is right next to part of Famosa Slough – a natural waterway that has survived years of battle between developers and environmentalists.

The redevelopment of Mariner’s Cove Apartments at 4392 W. Point Loma Blvd was a corporate decision by Amico. Patti Shwayder, senior vice president spoke to the Beacon about the need for updating the apartment complex. She said:

“We love the location but it’s ’80s construction. We looked at what we could do with the property. It has been well maintained, but it needs some work. At first, we looked at just rehabbing it. But the infrastructure was old and it required a huge amount of investment. So we thought we would think broader. It is 31 acres, so thinking what we could do, led us to do a whole new master plan.”

Pool at Mariner’s Cove today.

Aimco has a ground lease for the property with the San Diego Housing Commission and Shwayder said they’re looking to extend it.

So we started looking seven years ago at the conditions for extending the ground lease. But the housing commission required us to put millions of dollars into the property, which did not make it the new modern community that we desired. Being such a large site, we thought it was primed for additional apartments. And given we have buy-right (to increase) density, we decided to add an additional 272 apartments.”

Shwayder added that the new units will not be converted to condominiums, as their company handles apartments only. Aimco owns some 40 San Diego apartment communities. According OB Dist 3 MarnCov pklotto the Beacon:

Shwayder said a significant portion of Mariner’s Cove will be set aside for affordable housing, but added the majority of the housing project will target “workforce housing.”

“It’s not going to be high-end,” she said of the housing market being targeted. “We have 100 existing affordable units, and 200 affordable units in the new development, which is geared toward workforce housing, the missing middle.”

OB Dist 3 MarnrCov 02Shwayder described workforce housing as applying to occupations such as “teachers, firefighters, police, those folks who make a good income, but don’t qualify for affordable units,” she said. “They are also priced out of more expensive areas in San Diego. The idea is to have a very robust mix of housing. In the main, it’s workforce missing-middle housing.”

If all goes well with planning for Mariner’s Cove expansion, Shwayder said, “We will probably begin construction in summer of 2022, anticipating completion in mid-2025, though that might be a little aggressive.”

Aimco has said the Mariner’s Cove apartment redo is being accomplished with private investor funds, not taxpayer support.

For more information about Aimco, go here.

Famosa Slough looking east from Mariner’s Cove

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Remember – you’re still in Ocean Beach officially.

{ 2 comments… read them below or add one }

Avatar claudia jack November 11, 2020 at 5:20 pm

Frank? Have they mentioned raising the rents?? Also is The Orchard next vs The Sports Arena?? Keep in Touch~~ c

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Frank Gormlie Frank Gormlie November 11, 2020 at 6:48 pm

Claudia – Good to hear from you. Not yet – but they can be asked at the OBPB meeting. The redo won’t be completed until what 2025?

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