Touchstone Communities sells 56-Unit Mixed Use Project in La Mesa, CA
September 17, 2013
Touchstone Communities announces the sale of a 1.4 acre mixed use property located in La Mesa, California. Touchstone had acquired the property in 2012 from the previous owner who purchased it as an REO property from Comerica Bank. After the previous owners’ failed attempts to process feasible plans for the project, Touchstone gained City of La Mesa approval on its 56 unit mixed use apartment project in just 6 months. “We worked hand in hand with the City to design a project that the city staff liked and would provide a much needed new urban style project to the area,” says Kerry Garza, CEO of Touchstone Communities. “The City will use this as a model project and it will anchor the area where the city plans to have future urbanized housing and retail.”
The project was sold to a local apartment developer and owner who plans on building the project and adding it to his asset portfolio.