Multi-Family Home Builder Has Beaten All Expectations
26 Julio 2024 - 12:00PM
Business Wire
In less than 4 years, Atlas West Group has
become one of San Diego’s largest and most influential urban infill
multi-family builders; first to take advantage of the city's ADU
bonus program.
A multi-family development platform that launched less than 4
years ago with little more than a single lot and a vision for urban
infill development in San Diego has beaten all expectations. Atlas
West Group has become one of the largest and most influential
multi-family builders in San Diego.
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San Diego Mayor Todd Gloria touring a new
Atlas West community | Photo credit: Office of Mayor Todd
Gloria.
“I’m really excited about what I’m seeing here, because what I
see is opportunity,” San Diego Mayor Todd Gloria said while touring
a new Atlas West community with CEO Daniel Shkolnik. “Opportunity
for more folks to be able to live in our city at a price they can
afford … This gives people hope, a real sense that change is
coming, and that there is a future for them here in this city.”
- Atlas West, or AWG, has 22 projects in various stages of
development and a portfolio of more than $90 million in San
Diego.
- Roughly 40% of AWG units are designated affordable for working
families in order to satisfy the significant demand for
middle-income housing in San Diego.
- Sometime next month, AWG will surpass 170 units, and the
company is on track to break $100 million in development in
2024.
You will find Atlas West communities in the College Area,
Clairemont, Serra Mesa, Mira Mesa, Linda Vista, near Imperial
Beach, and elsewhere. Several new projects are in the pipeline. AWG
units range in size from 400 square feet to 1,000 square feet. They
are modern and comfortable, breathing new life into distressed
properties.
An innovative company, Atlas West is one of the first home
builders to build deed-restricted units without public subsidy in
Southern California, and the first to take advantage of the City of
San Diego’s ADU Bonus Program, approved in 2020. The company’s
first development was completed three years ago: a modern six-unit
complex on 49th Street in Talmadge. Today, Atlas West’s work is
routinely held up as a model, paving the way for other developers
to create homes that San Diegans can afford.
AWG owns, operates, and manages all of its properties.
“We’re in for the long run,” Atlas West CEO Daniel Shkolnik
said. “We’re building a small number of high-quality homes for
people who need them. We’re not changing the world, but we like to
think we’re doing our part to help create a better San Diego for
all of us.”
San Diego’s housing crisis, and the impact it has on working
families, created the spark for Atlas West Group.
“We’re focused on urban infill, workforce housing, and
transforming underutilized lots,” Shkolnik said. “We’re building
affordable homes for the people who make up the fabric of San Diego
— nurses, teachers, military personnel, first-responders,
tradesmen, and others.”
ABOUT: Atlas West Group is a privately held full-service
development and investment firm operating throughout San Diego
County. The company is a premier provider of urban-infill housing
and specializes in transforming underutilized properties into
vibrant multi-family communities. Atlas West utilizes innovative
permitting programs and creative construction strategies to bring
out-of-the-box solutions to the region’s housing shortage and
affordability crisis. The Atlas West team brings decades of
experience to real estate development projects, giving the firm the
network, reach, and insights needed to navigate complex situations
and deliver results.
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Media Contact: Tony Manolatos tony@manolatospa.com