A Southern California-based affordable housing developer has purchased a 20,000-square-foot property in San Diego, Calif., with plans to build a residential high-rise with retail.

Affirmed Housing Group paid an undisclosed amount for the site at 1050 B St., located in the city’s East Village neighborhood downtown.

Under the plan, Affirmed Housing Group plans to market the site under the name Ten Fifty B, with an expected completion date in the spring of 2010. Ten Fifty B will be a 23-story high-rise mixed-use project with 229 units, including studios and one-, two- and three-bedroom apartments. The project will include 14,000 square feet of retail space on the north side of B Street.

The seller was The Smiedt Children’s Trust and the Josephson Children’s Trust.


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