News | Press Releases | Immediate Release

February 12, 2003 For More Information:
Joy Lutes 877.846.7760
Clark Realty Builders Breaks Ground at The Village at Serra Mesa in San Diego
Demolition has begun at the former Cabrillo Heights Navy housing complex

Clark Realty Builders Breaks Ground at The Village at Serra Mesa in San Diego
SAN DIEGO — Clark Realty Builders (CRB) recently broke ground at The Village at Serra Mesa, a 900-unit townhome development for the Navy and Marines in San Diego. Several hundred existing units at the Cabrillo Heights Navy Housing complex have been demolished, and construction has begun on the new neighborhood.

The Village at Serra Mesa is part of an innovative public/private venture (PPV) with the Department of the Navy designed to relieve the current military housing shortage by utilizing the resources of private markets. The Navy's partnership is with Lincoln/Clark, a joint venture between Clark Realty Capital of Bethesda, Md., and Lincoln Property Company of Dallas.

"The work is progressing very well," said Dick Dorsch, CRB project manager. Dorsch noted that framing on the first buildings will begin next month. As the existing housing buildings are being demolished, some of the Cabrillo Heights residents are moving to the new 500-unit Village at NTC, another CRB project for the Department of the Navy. The Village at NTC will be complete this year.

The Village at Serra Mesa is being constructed approximately eight miles north of downtown San Diego. The new neighborhood features "neo-traditionally designed" townhomes with front porches and rear-loaded garages. Torti Gallas and Partners - CHK, Inc. of Silver Spring, Md., designed the two- and three-story Spanish Colonial townhomes. The homes average over 1,400 square feet each and offer a range of floor plans, from two-bedroom/1.5 bath to four bedroom and loft/2.5 bath units. The community is located near the intersection of Interstate 805 and Route. 163. Community amenities will include opened landscaped areas, a swimming pool, an outdoor amphitheatre, community rooms, workout facilities, barbecue/picnic areas, and tot lots.

The Lincoln/Clark partnership raised more than $260 million to improve the quality of life for the thousands of military families confronting long commutes and rents beyond the reach of enlisted personnel. The largest initiative yet between the Department of Defense and private developers, the PPV is now managing 2,660 existing family housing units, building the 500 new townhomes at The Village at NTC, and replacing 812 existing units at Cabrillo Heights in Serra Mesa with 900 new units. When complete, the portfolio will encompass 3,248 units.

Clark, the largest privately held general building contractor in the country and one of the largest national builders of residential housing, is managing the design and construction of the 1,400 new units. The apartments are being managed by Lincoln Property Company, the nation's third largest manager of multifamily units.

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About Clark

Founded in 1906, the Clark organization has become one of the country's premier developers of multifamily housing and is the largest privately held general building contractor in the nation. Clark is currently building the San Diego Padres stadium, the new $107 million Manchester Grand Hyatt in San Diego, and a new $83 million trolley station at San Diego State University. Clark is also performing a $113 million seismic retrofitting of the Los Angeles City Hall and a $51 million seismic replacement of the biomedical research laboratory at the University of California Los Angeles (UCLA) campus. The Clark companies are headquartered in Bethesda, Md., with regional offices strategically located throughout the United States.

About Lincoln Property Company

Established in 1965, Lincoln Property Company is one of the nation's top residential and commercial developers with properties in 200 cities across the country. A full-service real estate firm, Lincoln has developed over 98 million square feet of commercial space and 164,000 multifamily residential units. The company also manages over 100,000 residential units and 150 million square feet of commercial space and recently began developing residential and commercial real estate internationally.