When Alliance Residential Co. scooped up this waterfront, 13.9-acre, 549-unit community in 2013 for a little more than $160 million, its executives saw its potential. Originally built in 1971, the property had experienced minimal updates and looked more like a bad Florida condo complex than it did an apartment community in an affluent neighborhood of San Diego.
In 15 months, H. Hendy Associates and Alliance were able to transform the project into the waterfront property it was always meant to be. The two companies gutted both the units and the common spaces to give them a fresh, clean, and contemporary appeal better suited to their natural environment. Individual units were infused with color palettes inspired by the sun, salt, and sea, and were upgraded with quartz and granite countertops, plantation shutters, and designer vanities.
The 18,000-square-foot clubhouse was redesigned to maintain natural light throughout the facility while properly sectioning off areas for a business center, meeting rooms, media room, and fitness center. Other amenities include a resort-style pool, saunas, an on-site beauty salon, a dog park, and grilling stations.
Broadstone Coronado on the Bay also takes advantage of its impeccable location and climate by inviting residents to watch movies at its outdoor cinema or cozy up by the multiple fireplaces overlooking the San Diego Bay and city skyline.
Alliance was able to raise rental rates by $560 per unit and maintain a 97% occupancy rate.