Welcome to San Diego Blog | September 22, 2011

Jonathan Segal Lofts

Downtown San Diego

Jonathan Segal is a world renown architect with a reputation for innovative residential and mixed use urban housing projects in Downtown San Diego.  As a master architect, Segal has been the recipient of a multitude of awards and accolades for design.

With an uncanny knack  for timing residential projects in key locations, Segal’s developments often spark the gentrification of the surrounding areas.

Jonathan Segal Lofts have revolutionized the concept of  residential housing in San Diego’s Urban Neighborhoods.

Segal’s focus has been medium to high density buildings that offer the loft concept at prices that tend to be more affordable than comparable properties.

Segal had established himself in the late 1990’s in areas that had a lot of potential “upside” for future development.  A prime example of this resides in the heart of the East Village’s Ball Park District.

Angove Lofts, a small 11 unit residential project, was built on the corner of 10th and Island six years before a ballpark was built.   This “minimalist” project consists of 3 separate buildings, 2 of which are stand alone tri-level townhomes, and a larger multi-unit complex that consists of 8 two-story loft units.  The buildings envelope an extremely small parking lot that hosts 7 parking spaces, which can be a challenge as this property now resides 1 block from Petco Park.

Jonathan Segal Lofts are known to have some of the lowest HOA Dues in Downtown!

Because there are very few moving parts involved with these communities:  minimal landscaping, maintenance, and no elevators or amenities, Segal lofts are an attractive investment for the first time buyer and investor buyer alike.

On average, the monthly maintenance fees rarely exceed $200 per month!

In 2004, five of Segal’s projects that were originally built as economic apartments, were converted for sale, and marketed as Metro Lofts.

At the time, these properties were an exciting alternative to the “cookie cutter” condos that were being offered in the higher rise towers.  When originally released, the marketing group selling the projects did little to nothing to improve the units.

Other than a fresh coat of paint, the Metro Lofts were sold in “As Is” condition, at premium prices.  Although, the level of finishes and quality of construction were sub-standard in comparison to newer properties that were hitting the market at the time, the Metro Lofts offered an eclectic alternative appealing to the unconventional homebuyer.

As the market turned, The Metro Lofts properties didn’t sell as projected, and the projects went back to the bank.  The sales went dormant for about 2 years as the remaining properties for sale were leased out.

Recently, the entire projects were purchased by Starwood, and the unsold properties were vastly upgraded with new kitchens, floors, wardrobes, and much needed structural repairs.  The project was then repriced at market value, creating an incredible buzz as they were being offered at a fraction of their original release prices from 2004.  Importantly, the individual property HOAs’ were fortified by adding funds to the reserves.   The complexes were then approved for FHA Financing, opening the doors to a whole new range of buyers.

All of the sudden Segal Lofts had become highly sought after to the entry level first time buyers and investors segment of the market.

When it comes to Jonathan Segal buildings, it’s all about design!

One of the more interesting Segal property in the Metro Lofts collection, resides on the corner of Kettner and Hawthorne Streets in Little Italy.  The project is named the Waterfront, named after one of the oldest bars in Downtown, The Waterfront Bar & Grill.

Waterfront Lofts, San Diego

The history behind this project is very intriguing as there were old tuna boat warehouses that were adapted and converted to residential urban lofts.  Segal had the challenge of retrofitting the old barrel-roofed boat warehouses, along with the fish processing building, and converted them to lofts.  He then tied in newer-stylized loft residences resulting in one of the most eclectic array of urban dwellings in all of Downtown San Diego.

Waterfront Lofts complex, like most Segal buildings, are low-rise and low density buildings (37 Units) with ground level retail space, and no ammenities whatsoever.

The Waterfront was just one projects that helped Segal establish his presence in the Little Italy Neighborhood in the early 2000s.

Other noteable Jonathan Segal Lofts include:

Little Italy

  • Kettner Row
  • The State
  • Lusso Lofts
  • Titan
  • The Waterfront

Marina District

  • The Brickyard
  • 7 on Kettner

East Village

  • Moto Villas

Most Segal buildings are simple architectural forms, built with wood frames and are modestly embellished with steel, stucco, aluminum and block.  His architectural designs have a distinctive contemporary look with organic earth-tone accents and large over-sized windows.

Although simplistic in their design and function, these buildings capture the imagination…  but none of his previous work has surpassed his newest concept: The Q.

The Q is a LEED Certified “Green” Building, equipped with solar panels, drought tolerant landscaping, and energy efficient windows, all in a sleek, ultra-modern design.  The Q is a mixed use building with ground level retail space featuring a hip wine bar and the contemporary Italian restaurant, Bencotto.

Like previous Segal projects, residential properties at the Q are for lease only, with no scheduled date to be converted to sales.  Q residential lofts, like the Metro Lofts will likely hit the market long after the builder’s responsibilities for construction defects have expired.  This is typical trend for Segal properties and buyers must be aware that they are usually purchasing a home in “As Is” condition.

Segal Lofts are certainly not for everyone, but they are undoubtedly cool, and in some cases affordable.

Because Segal’s designs are so distinctive and unique, individuals are specifically targeting his collections for purchase in hopes of capturing a significant architectural era.

To learn more about Jonathan Segal Lofts for sale :

 


Written by: admin

Categories: Buyers, Culture, Downtown San Diego, East Village, East Village Real Estate, Little Italy, Little Italy Real Estate, lofts, Luxury San Diego Condos, Marina District, Marina District Real Estate, Real Estate Investment, Uncategorized

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