New leaseholder at Grossmont Station facility

September 10, 2018 by  

Alterra & Pravada at Grossmont Station, a 527-unit apartment complex in La Mesa, has a new leaseholder. Intercontinental Real Estate Corporation and TruAmerica Multifamily have partnered to acquire the interest in the property.

The complex, according to the two companies, is the largest development planned around transit in San Diego County. It was completed by Fairfield Grossmont Trolley, together with the Metropolitan Transit Authority, in 2010 and is an LEED Gold certified community. The complex comprises six buildings of four stories each, and offers one- and two-bedroom apartments. Out of the total number of units, 15% are to be rented to families and individuals with very low or moderate incomes.

The new leaseholders are planning to refresh and improve the property as units are turned around, and upgrade common areas such as the pools, decks, and clubhouses. They also plan to paint the exterior and improve the landscaping. Projects like this give new owners a chance to consider their logo design, and change it if they like.

The apartments are next to the Grossmont Transit Center, in La Mesa on Fletcher Parkway. The Grossmont stop is one of the busiest in the county, with some 2,600 people boarding trains at the station every day. Robert Hart, the founder and CEO of TruAmerica, said that developments oriented toward transit systems are smart, since they reduce traffic by making it easy to use public transit, and increase the number of affordable housing units available.

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