The joint venture partnership of Bishop Ventures and Murfey Company anticipates breaking ground 4th quarter 2020 on Secoya on Fifth. ‘Secoya’ is an iconic 8-story, 103 micro-unit apartment development with 3,000sf of ground floor retail with community amenities including a landscaped courtyard with spa and rooftop terrace.
Located on a prime 10,000sf corner at 3067 Fifth Avenue in the heart of San Diego’s historic Banker’s Hill neighborhood, Secoya is also just steps away from Balboa Park and 1 mile from Downtown’s urban core.
Onsite Inclusionary Housing
Bishop Ventures believes that onsite affordability is a high priority and decided to forgo paying inclusionary housing fees and included 15% of the base zoning’s allowable residential density as rent restricted very low income units.
More importantly, this innovative project is providing a great deal of naturally occurring affordable housing as well. We anticipate this development’s overall affordability ratios to be: 4% Very Low Income, 7% Low Income, 58% Moderate Income, and 31% Middle Income, making it one of San Diego’s most balanced mixed-income communities ever built without public subsidy.