Developers and city officials on Thursday celebrated the opening of 525 Olive, a $100.2 million luxury apartment building with panoramic views of Balboa Park, downtown and the bay.
At 20 stories in its elevated Bankers Hill location, the complex is San Diego’s tallest residential building with rents starting at $2,440 per month, according to Charleston, South Carolina-based real estate developer Greystar.
The nearly 300,000 square foot project was developed in conjunction with St. Paul’s Episcopal Cathedral, which occupies 10,000 square feet on the first floor, 8,500 square feet on the lower level and uses underground parking.
According to Greystar development director Raul Tamez, interest in the property has skyrocketed since pre-letting began in February.
The building’s 204 residences, currently 40% leased, include studios, one-, two-, and three-bedroom floor plans, and penthouse suites, with homes ranging from 533 to 1,625 square feet. The resort also offers 18 affordable units for occupants at or below 50% of the area’s median income, according to Greystar.
Facilities include Level 20 SkyClub, a rooftop retreat on the entire top floor, the Park Lounge social area with a food bar, the Sun Club with a rooftop pool and lounge, an indoor fitness studio/ exterior, a dog play area and pet spa, access to concierge services, and bookable bicycles.