Update on 1004 Rosecrans: Property for Sale, Community Looks for Buyers; Owner / Developer Claims Opposition Circulated ‘Misinformation’
Conflicting claims are flying around Point Loma these days regarding the property at 1004 Rosecrans — where a proposed four-story, 56-unit mixed-use project right next to the elementary school was on deck to be constructed. But community opposition quickly developed led by a grassroots group called Protect Point Loma — and it was recently announced that the owner / developer wanted to sell the site instead.
That was good news.
People in PL began celebrating – and started trying to find a developer and local investors who would create a more neighborhood-friendly project.
Eric Law, chair of both the Peninsula Community Planning Board and Protect PL, told Times of San Diego that the sale of the property / project to local investors would benefit everybody — seller, buyer and the community as a whole.
Law said Protect Point Loma is working with Peninsula developers of one sort or another with the idea of producing a different type of development that would be better for the community. He said real estate comparables, or “comps,” in the area are substantially lower than what the developer wants for 1004 Rosecrans.

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