Just when we thought the Cortez “hole” project was set for future development, a new glitch of sorts has emerged. The Centre City Development Corporation would like to see the now-filled Cortez “hole” (abandoned Atmosphere condo site) increase its footprint.
Immediately north of the site is California Stamp Co., 1492 Fifth Avenue at Beech Street; south of the site, at 1434 Fifth Avenue, is the Spencer S. Busby law offices building.
Jeff W. Graham, redevelopment vice president at Centre City Development Corporation, says the staff has asked Wakeland Housing to determine if those property owners will sell. Graham said “the San Diego Redevelopment Agency's acquisition of those two sites makes sense for several reasons. The site the agency recently acquired is oddly shaped and provides less efficient parking and floor plans than a square- or rectangular-shaped site, possibly even requiring two separate buildings connected by unattractive 'bridges.'”
Californa Stamp owner Randy Hansen confirmed he's been contacted by a broker, but declined to say if he would sell. Busby did not comment. The Beachwood residential hotel property at Fourth and Beech is not part of the plan. Graham said, “If they are not interested in selling, we will proceed according to the original plan.”