Self-Storage Development Proposed for Challenging Site in Vista, CA

Self-storage developer Mike Rolfes, CEO of Trico Investments, a real estate investment company operating self-storage facilities as Lighthouse Self Storage and other brands, intends to develop a 1.9-acre stretch of narrow, hilly land in Vista, Calif., into self-storage. Rolfes plan is to build a two-story facility with driveway access off of South Melrose Drive. It will be built into the side of the hill with some storage units below grade, according to the source.

Self-storage developer Mike Rolfes, CEO of Trico Investments, a real estate investment company operating self-storage facilities as Lighthouse Self Storage and other brands, intends to develop a 1.9-acre stretch of narrow, hilly land in Vista, Calif., into self-storage. Rolfes plan is to build a two-story facility with driveway access off of South Melrose Drive. It will be built into the side of the hill with some storage units below grade, according to the source.

The property has proven challenging to developers, with the last planned project—an office building—falling through during the conceptual stages 15 years ago. The family trust that owns the land recently asked the city to change the zoning from retail to allow self-storage, according to the source.

The city council appeared favorable toward the project during a meeting last week but didn’t take formal action. Councilmember John Franklin noted during the meeting that homeowners near the site also appear to favor the self-storage plan, the source reported.

The self-storage proposal is the first offer made on the property in five years, Al Apuzzo, a principal with commercial real estate firm Lee & Associates, told the council.

Headquartered in Irvine, Calif., Trico is a real estate fund manager specializing in the acquisition and development of self-storage properties. The company and its affiliates have designed, developed or owned nearly 100 storage facilities across the United States and managed more than 20,000 storage units in California and Florida.

Lighthouse Self Storage provides self-storage for personal and business customers as well as boat and RV storage in California and Florida.

Sources:

TAGS: Zoning News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish