Editordude: For decades, OBceans and Point Lomans drove past Perry’s Cafe as it stood at the very visible intersection of I-5 and I-8. That ended two years ago. The fabled eatery closed and was demolished. In its stead, something slowly rose up encased in scaffolding and mystery. Here, Rag writer Michael Hernandez breaks it all down.
By Michael Angelo Hernandez
The Latest on Perry’s Multifamily Apartments, Formerly Known as Perry’s Cafe
Nearly two years ago, in August of 2024, Old Town’s beloved, family-owned diner, Perry’s Cafe at 4620 Pacific Highway, served its last meal and closed its doors for the final time.
The iconic restaurant was founded in 1985 by Greek immigrants Constantine (a.k.a “Costas”) and Margaret Georgakopolous. Named after the couple’s daughter, Perry Eulmi, Perry’s cafe went on to serve millions, becoming a cherished destination for both tourists and locals alike in search of their classic American diner experience, famously massive portions, and nostalgic atmosphere.
For nearly four decades, the restaurant stood as a local community staple, weathering multiple mishaps over the years including a number of cars flying off the Interstate-5 and landing right onto their parking lot, a 2009 fire which closed them down for four months and cost them an estimated $300,000 dollars in damages, and even the lockdown during the Covid-19 pandemic.
In 1992 when the original owners, the Georgakopolous, opted to retire, the reins of the business were handed down to their daughter who ran the restaurant along with her son until 2024 when she too decided to retire. August 15 was the date announced for the diner’s last ever day of service, however, Perry’s Cafe ended up closing more than a week earlier on the fifth, reportedly due to staff burnout following the huge crowds drawn by the announcement of the closure.
In a 9 million dollar-sale, Perry’s Cafe was acquired by San Diego-based real estate development company, Viewpoint, which specializes in the entitlement, construction, and sale of midmarket multifamily residential assets. Viewpoint’s plan? To develop a 223-unit apartment complex, in a seven-story building, over the 1.74 acre site which previously housed the diner.
According to a Notice of Completion of a draft subsequent environmental impact report related to the project on CEQANET, California’s official public portal and online database for environmental documents, some issues associated with the project included, but were not limited to:
- concerns over the development’s aesthetics,
- effect on air quality, noise,
- and its effects on traffic, parking, and public health.
These issues culminated in an appeal being filed against the project. The San Diego city council declined that appeal at a public hearing on June 4, 2024 paving the way for the construction of “Perry’s Multifamily Apartments.”
City documents notifying the public of the hearing state, 33 out of the 223 apartment units, less than 15%, will be designated as ‘affordable”– with 20 of those serving as very-low income units and the other 13 as units for those with moderate incomes.
The document also read:
“The building will consist of five stories of residential units over a two-story podium with above-grade parking and one partial level of below-grade parking.”
It also adds that parts of the existing structure, Perry’s Cafe, would be preserved and repurposed as the new apartment complex’s leasing office.
Construction on the project, now led by Solana Beach-based real estate development company, Zephyr, began in late 2025. In a post to the development’s general contractor W.E. O’Neil Construction’s Facebook page, the company announced the project officially broke ground on November 19, 2025. More recently, in a post uploaded to the page roughly three months ago, W.E. O’Neil Construction declared “Perry’s Apartments is rising in San Diego” stating their team is working closely with Zephyr and the project’s design team AO, to bring the almost 325,000 square foot redevelopment to life.
The project page on Zephyr’s website says once finished, the apartments will offer great walkability to Old Town and another one of Zephyr’s future mixed-use developments, Midway Rising. (This is the $3.9 billion dollar proposal to redevelop the 48-acres that make up Pechanga Arena and the surrounding Midway District. A collaboration between Zephyr and Chelsea Investment Corporation, the same real estate developer behind the construction of the Mt. Etna Campus in Clairemont, the Midway Rising proposal seeks to add more than 4 thousand apartments, a new 16 thousand-seat stadium to replace the existing Pechanga Arena, 130 thousand square feet of shops and food spots, and 14.5 acres of parks and public space.)
Construction on the sprawling Perry’s Multifamily Apartments is currently ongoing, as of yet, there is no finalized completion date.
