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CEDARst, Quartz Lake Unveil Second San Diego Multifamily Build
A joint venture between CEDARst Companies and Quartz Lake Capital unveiled plans for its second multifamily development in San Diego, FLATs Bancroft. The venture acquired a land site located at 3760 to 3794 Bancroft St. in the North Park neighborhood and plans to develop a $103-million, 218-unit rental community.
The JV announced plans for FLATs Hillcrest, a $145-million, 301-unit project in the Hillcrest submarket, earlier this month.
FLATs Bancroft will include 78 studio, 121 one-bedroom and 21 two-bedroom residences. The 255,862-square-foot building will also feature 3,005 square feet of ground-floor retail.
“The cornerstone of CEDARst’s San Diego strategy is to deliver high-quality, in-fill multifamily projects that connect with the character of the neighborhood and promote housing accessibility and equality,” said CEDARst CEO Will Murphy. “We’ve designed FLATs Bancroft as a reflection of the incredible North Park community.”
CEDARst and Quartz Lake expect to break ground on the project during the second quarter. Delivery of the first units is slated for May 2026.
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- ◦Development
