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For Linda Cone and her husband, Pete, living at Parkloft on the 800 block of Island Avenue in downtown San Diego’s East Village neighborhood is an extension of something that has been in her family for 70 years.        

The 40,000-square-foot site where the Parkloft condominium lofts building now stands had been owned since 1933 by Linda’s grandfather and father, Henry and Joe Street.

Once a livery stable, the property was being used as an antique mall when Parkloft’s developer, the Douglas Wilson Companies, purchased the property approximately three years ago; later clearing the site to build the first for-sale residential project in East Village.

            “Once the ballpark was to become a reality, we could see the exciting potential for the neighborhood with all the other development being planned as well,” Linda recalls.

“Later, we saw a similar condominium loft project in Denver and thought how wonderful it would be to live in a downtown loft with all its spaciousness and flexibility,” she said, referring to her and her husband’s 1,900-square-foot loft, complete with 1,100-square-foot terrace on the sixth floor overlooking the ballpark and bay.

            Linda says another reason she and her husband relocated specifically to Parkloft from the Mount Helix area is the fact that all the lofts are different and are not “stacks of identical floor plans” as is the case in other downtown residential projects.  “We really have something unique that is ours alone, not a carbon copy of something down the hall or on another floor,” she said.  “This is urban living at its very best.”

San Diego Union-Tribune Change of Address June 21

A chic urban loft in East Village with views of downtown San Diego and Petco Park is a far cry from the rambling 4,500-square-foot single-family house they left in Houston two years ago.  And that suits Paul and Joanna Cossum just fine.

            The Australian-born scientist and his British wife moved to San Diego two years ago where Paul is executive vice president of drug development for locally based NewBiotics, Inc., a pharmaceutical developer of breakthrough drugs to treat cancer and infectious diseases.

            “Our kids are grown and the dog had died,” Paul quipped, explaining their decision to downsize their space requirements when they relocated to San Diego. “My wife had a vision of living downtown and the two of us enjoying its lifestyle – and even living in a loft. But we had always thought lofts were in older, converted warehouses and storefronts and we wanted a new home.  That’s why Parkloft was the ideal choice.”

            The Cossums were among the first to occupy Parkloft when the 11-story concrete-and-brick building was completed last fall. Their 1,900-square-foot loft on the sixth floor features two terraces, one with a view of the new ballpark, the other with downtown vistas.

            “We’ve been able to use the loft’s open space design to create something very appealing to us,” Paul said.  “We also appreciate the very sturdy and solid feel of the building,” he added, referring to the poured-in-place concrete construction.  “We haven’t seen anything like it here.”

            Paul and Joanna spend time walking and bicycling and enjoying the many restaurants, jazz clubs, and other downtown and waterfront amenities, including the ferry to Coronado.

            “We really enjoy the downtown San Diego lifestyle, especially as Parkloft homeowners,” he said.

            Parkloft includes 120 lofts and penthouses, ranging from approximately 1,300 to nearly 3,000 square feet and priced from the mid $500,000s.

Standard features in each loft include open floor plans, hardwood floors, Pella windows, European cabinetry, all under 10-foot, 6-inch ceilings with exposed ducting and pipes. Common area amenities include a spacious interior courtyard, fitness room, a 24-hour doorman, additional storage facilities as well as ground-level and subterranean parking for more than 200 cars.

PREPARED FOR: The Daily Transcript Residential Real Estate Report June 19

Recent heightened interest in Parkloft on the part of downtown San Diego homebuyers has resulted in all but 28 lofts spoken for, according to Peggy O’Connell, vice president of sales and marketing for the mid-rise development in East Village.

            As of the end of May, 83 of the 111 available lofts had been sold or reserved on the first through ninth floors of the 11-story building just one block north of Petco Park. 

Additionally, there are nine 10^th - and 11^th -story penthouses, of which the first five were recently released for sale.

“We still have a good selection of lofts available but there is a growing urgency on the part of interested buyers being able to select the size and location of lofts,” O’Connell said.

            Parkloft is the first for-sale residential project to be completed in East Village which is the largest redevelopment district in downtown San Diego. 

“More and more people are discovering the downtown San Diego residential housing market and are interested in investing in home ownership in East Village which is becoming the new urban center for downtown residents to live, work, and play,” O’Connell said.  “They particularly like the design and construction of the Parkloft building and its location, a short walk to the new ballpark.”

            Completed last fall by the Douglas Wilson Companies, Parkloft includes 120 lofts and penthouses in a brick and poured-in-place concrete building. Lofts range from approximately 1,300 to nearly 3,000 square feet and are priced from the mid $500,000s.

Standard features in each loft include open floor plans, hardwood floors, Pella windows, European cabinetry, all under 10-foot, 6-inch ceilings with exposed ducting and pipes. Common area amenities include a spacious interior courtyard, fitness room, a 24-hour doorman, additional storage facilities as well as ground-level and subterranean parking for more than 200 cars.

Some 70 percent of the available lofts have been sold or reserved at Parkloft in downtown San Diego’s emerging East Village neighborhood.

            Peggy O’Connell, vice president of sales and marketing for the mid-rise complex at 877 Island Ave., said 78 of the 111 lofts presently available for sale were sold or spoken for as of the end of April. 

            Parkloft is the first for-sale residential project to be completed in East Village which is the largest redevelopment district in downtown San Diego.  Anchored by the new ballpark now under construction and scheduled to open next spring, East Village is attracting several residential and commercial projects.  According to one local real estate analyst, the end result has been neighborhood property values increasing an average of 27 percent annually in the past couple of years.

“More and more people are discovering the downtown San Diego residential housing market and are interested in investing in home ownership in East Village which is becoming the new urban center for downtown residents to live, work, and play,” O’Connell said.  “They particularly like the design and construction of the Parkloft building and our location, just one block north of the new ballpark.”

            Completed last fall by the Douglas Wilson Companies, Parkloft includes 120 lofts and penthouses in an 11-story brick and poured-in-place concrete building that is reminiscent of the Soho and TriBeCa neighborhoods of Manhatten.  Lofts range from 1,300 to nearly 3,000 square feet and are priced from the mid $400,000s.

Standard features in each loft include open floor plans, hardwood floors, Pella windows, European cabinetry, all under 10-foot, 6-inch ceilings with exposed ducting and pipes. Common area amenities include a spacious interior courtyard, fitness room, a 24-hour doorman, additional storage facilities as well as ground-level and subterranean parking for more than 200 cars.

Some 70 percent of the available lofts have been sold or reserved at Parkloft in downtown San Diego’s emerging East Village neighborhood.

            Peggy O’Connell, vice president of sales and marketing for the mid-rise complex at 877 Island Ave., said 78 of the 111 lofts presently available for sale were sold or spoken for as of the end of April. 

            Parkloft is the first for-sale residential project to be completed in East Village which is the largest redevelopment district in downtown San Diego.  Anchored by the new ballpark now under construction and scheduled to open next spring, East Village is attracting several residential and commercial projects.  According to one local real estate analyst, the end result has been neighborhood property values increasing an average of 27 percent annually in the past couple of years.

“More and more people are discovering the downtown San Diego residential housing market and are interested in investing in home ownership in East Village which is becoming the new urban center for downtown residents to live, work, and play,” O’Connell said.  “They particularly like the design and construction of the Parkloft building and our location, just one block north of the new ballpark.”

            Completed last fall by the Douglas Wilson Companies, Parkloft includes 120 lofts and penthouses in an 11-story brick and poured-in-place concrete building that is reminiscent of the Soho and TriBeCa neighborhoods of Manhatten.  Lofts range from 1,300 to nearly 3,000 square feet and are priced from the mid $400,000s.

Standard features in each loft include open floor plans, hardwood floors, Pella windows, European cabinetry, all under 10-foot, 6-inch ceilings with exposed ducting and pipes. Common area amenities include a spacious interior courtyard, fitness room, a 24-hour doorman, additional storage facilities as well as ground-level and subterranean parking for more than 200 cars.

Those who think the massive number of new for-sale housing units proliferating in downtown San Diego is attracting only those long accustomed to the urban lifestyle would do well to look again, according to a prominent downtown San Diego developer.

            Douglas Wilson, whose firm bearing his name, pioneered the first major residential project in East Village with its recently completed Parkloft condominium loft project, is finding out that the appeal of his and other downtown housing projects extends well beyond urban Zip Codes to include both young and older suburbanites.  So evident is the trend that Wilson predicts that the time is not too distant when young families will join the suburban exodus to the inner city – in this case, downtown San Diego.

            It’s already happening in other cities, observes Wilson, who is an active real estate operative in San Francisco, Los Angeles, Denver and other locales.

            “The new interest in living in a downtown environment is counter to what took place a generation ago when so many people fled the inner cities to the newly constructed suburbs of many U.S. cities,” he said.  “Today, the grown children of those early suburban dwellers have had it with long commutes, crowded neighborhoods and schools. Most of them by now are well into middle age and are tired of trying to keep up their large homes and yards. They’re looking for the alternative lifestyle that inner city living can offer.”

            Wilson said resurgence in downtown living has long been the case in Chicago, New York, and Boston – cities where neighborhoods, built more than a century ago, are now being redeveloped.

            “These are cities where downtown housing has always been in place; however, we’re seeing these old neighborhoods now being redeveloped into modern living environments, complete with new retail and other support amenities,” he said, citing Chicago’s redeveloped Near North Side as but one example. “This area is attracting not only singles and couples but now families even with small children.”

            There are other cities, most notably Denver and San Francisco, that are experiencing new housing development in non-residential and highly deteriorated areas of their respective inner city cores, he said.

            The one thing these cities – San Diego included – have in common is a downtown ballpark that is stimulating massive redevelopment of the surrounding neighborhoods,” he said.

            Both Coors Field in Denver’s once-blighted LoDo neighborhood and Pac Bell Park in the China Basin area of San Francisco have been catalysts that have triggered new residential projects, retail and office uses in areas that had all but been abandoned.

            Several years ago, Wilson’s firm handled the repositioning and eventual sale of the refurbished 800,000-square-foot China Basin Landing complex adjacent to what is now Pac Bell Park. Its ability to fetch an impressive sales price for the property was due in large part to the park’s presence and its influence on the accompanying redevelopment taking place.

            It’s the same scenario now taking place in San Diego, Wilson observes. The $450 million Padres ballpark, now under construction a block south of Wilson’s $60 million Parkloft complex, is having the same effect on the redevelopment of a 26-block section of the historic warehouse district, otherwise known as East Village. His 11-story concrete and brick building, containing 120 high-end lofts, was completed last fall. 

To date, more than half of the lofts have been sold.  Remaining lofts range from approximately 1,200 to 3,000 square feet and are priced from the low $400,000s.

While it has been the ballpark that initially draws prospective buyers to the Parkloft site, what has hooked them into becoming homeowners are the special Parkloft features that create an alluring urban living ambience.  Open floorplans, hardwood floors, Pella windows, European cabinetry, all under ten-foot, six-inch ceilings with exposed ducting and pipes are distinctly urban residential amenities.  

            Parkloft homeowners represent as diverse an array of former addresses, ages, cultural and vocational backgrounds as would be found in any part of the region, Wilson said.

            “What they have in common is the desire to be a part of the new urban lifestyle that is emerging in downtown San Diego and to be on the ground floor as East Village transforms into a very special place to live, work, and play.”

Hotels, office complexes, and a host of diverse retail facilities are scheduled to follow in the coming months as East Village transforms into a brand-new urban neighborhood, reminiscent in character to the Soho and Tribeca districts of New York.

            As significant as downtown San Diego redevelopment has been to date, it pales in comparison to the density of other cities’ downtown districts, according to Wilson.

            “A bird’s-eye view of our downtown area to date reveals just how grossly under developed the real estate is,” he said. Except for a few high-rise office buildings, most of the development downtown so far has been three- and four-story ‘stick-built’ structures – hardly high-density land use, compared to such cities as Chicago and New York. Those are high-density cities.”

            The other primary difference between downtown San Diego and the redeveloped cores of other cities is the lack of facilities to date to attract families as residents.

            “So far, downtown San Diego is attracting singles, young couples, and empty nesters from all over the region, including as far north as North County and Temecula, but so far, not families with children,” he said. “Downtown is not yet a ‘24/7’ city with all the support structures in place for families, such as adequate schools, more retail and recreational facilities.”

            But that will change, Wilson predicts, and that’s why those who are now buying Parkloft and other downtown residential offerings will be on the ground floor to enjoy the additional amenities when they do come.

            Those who have a stake in the future of San Diego as a whole have a stake in what’s taking place in East Village and other areas of downtown, whether or not they have ever been interested in setting foot downtown.  Many urban observers believe that as goes a center city, so goes the surrounding communities.

            Fact is, more people are becoming interested in the new downtown San Diego – as permanent residents.

SAN DIEGO -- (August 30, 2002) -- The Douglas Wilson Companies has named Merit Property Management, Inc., a division of The Merit Companies, as its property management firm for Parkloft, a new $60 million, 120-unit luxury residential loft complex located at 877 Island Ave. in the East Village neighborhood of downtown San Diego.

As the property manager, Merit Property Management will assist Parkloft staff with details involving the close of escrow, including scheduling move-ins for the new home buyers. Additionally, the company will manage and maintain all onsite facilities, including a fitness room, courtyard, elevator and common areas. Merit Property Management also will be charged with preparing budgets and financial analysis, arranging for payment of vendors, collecting homeowner association fees, creating and distributing newsletters to homeowners, and managing Parkloft’s lobby staff.

SAN DIEGO -- (August 23, 2002) -- Parkloft, a new $60 million luxury residential building nearing completion in East Village, officially has been awarded its certificate of temporary occupancy and will be ready for buyers to move in the second week of September. Douglas Wilson Companies is the project developer.

Located at 877 Island Ave., the 11-story concrete and poured-in-place brick building features 120 unique, one- and two-story loft units ranging from 930 to 3,000 square feet, priced from the $400,000s.

Each loft unit features an extensive list of built-in amenities, including 10’6" ceilings, exposed ducting, large operable Pella windows, French doors, hardwood floors, European-style kitchen and bathroom cabinetry, sub-zero refrigerators, slab granite countertops, and wiring with "future smart" technology.

Parkloft’s exterior features a blend of historic and contemporary architecture, reminiscent of the loft warehouses in the Soho and TriBeCa neighborhoods of Manhattan. Many lofts overlook a large interior courtyard, complete with outdoor furniture and barbecues. Other features include an onsite fitness center, additional garage storage units, an onsite 24-hour doorman, and both subterranean and ground level parking for more than 200 vehicles.

Hensel Phelps Construction Company is the general contractor. Denver-based Shears and Leese is the project architect, with KMA Architecture & Engineering as the local architect. Jossy+Carrier Design Group was the interior designer for Parkloft’s recently completed sales model home, as well as for the building’s common areas.

SAN DIEGO -- (August 16, 2002) -- Construction and interior design of the sales model home has been completed for Parkloft, a new $60 million, 120-unit luxury residential loft complex located at 877 Island Ave. in the East Village neighborhood of downtown San Diego. Douglas Wilson Companies is the developer.

Jossy+Carrier Design Group was the interior designer for the model unit, with Jules Wilson and Wendy Shannon serving as project designers. The firm also designed Parkloft’s common areas. Parkloft will be ready for occupancy by September of 2002.

Located on the ground level, the approximately 1,500-square-foot model unit was designed to capture the essence of “urban loft living” by taking advantage of the open floor plan, 10’6” ceilings, and abundance of large operable Pella windows. The model showcases the numerous built-in amenities found in each of Parkloft’s 120 unique, one- and two-story loft units, which range from 930 to 3,000 square feet. Amenities include exposed ducting, French doors, hardwood floors, European-style kitchen and bathroom cabinetry, sub-zero refrigerators, slab granite countertops, and “future smart” wiring.

The exterior of the 11-story, concrete and poured-in-place brick building features a blend of historic and contemporary architecture, reminiscent of the loft warehouses in the Soho and TriBeCa neighborhoods of Manhattan. Many lofts overlook a large interior courtyard, complete with outdoor furniture and barbecues. Other features include an onsite fitness center, additional garage storage units, an onsite 24-hour doorman, and both subterranean and ground level parking for more than 200 vehicles.

Hensel Phelps Construction Company is the general contractor. Denver-based Shears and Leese is the project architect, with KMA Architecture & Engineering as the local architect.

SAN DIEGO -- (August 16, 2002) -- The Douglas Wilson Companies will host a spirited gala in celebration of the grand opening of Parkloft, its premier 120-unit luxury residential loft complex, on Saturday, October 19, 7:00 p.m. to 12:00 midnight, at the new Parkloft complex located at 877 Island Ave. in the East Village neighborhood of downtown San Diego. Proceeds from the event will benefit the Museum of Contemporary Art San Diego and the San Diego Repertory Theatre.

“Bohemian Nights” is the title for this lively affair, which will feature mingling and entertainment in the Parkloft courtyard, ongoing live performances from the balconies, and passports for entry into individually themed lofts. Guests will enjoy an array of irresistible food, entertainment and furnishing in each of four themed lofts, including the “Feng Shui Loft,” “Club Loft,” “Sex in the City Loft,” and the “Penthouse Loft.”

The ticket cost for “Bohemian Nights” is $195 per person. To purchase tickets, contact Steve Norton International at 949-494-8876.

SAN DIEGO -- (June 14, 2002) -- Parkloft, a new $60 million, 120-unit, residential complex being built by the Douglas Wilson Companies adjacent to the new Padres Ballpark in the East Village neighborhood of downtown San Diego, Calif., recently was named winner of the Progress Award from the East Village Association (EVA).

Held June 13 at the ReinCarnation Project and Debra Owen Gallery in downtown San Diego, the 2002 EVA Awards recognizes businesses and individuals who are helping to foster the growth and revitalization of the East Village neighborhood. The event was sponsored by EVA, a neighborhood coalition of businesses, property owners and residents.

Parkloft was cited by EVA as “an outstanding new development in the East Village area.” Douglas Wilson, president of the Douglas Wilson Companies, accepted the award.

“We wanted Parkloft to exude the highest quality,” said Wilson. “In order to make the loft concept work in San Diego, everything -- from the building materials and architecture, to the layout and amenities of each loft -- had to be authentic. East Village is on its way to becoming downtown’s signature residential district, and Parkloft will be in its epicenter.”

Construction of the approximately 6,000-square-foot open courtyard area is 75 percent complete for Parkloft, a new $60 million, 120-unit luxury residential loft complex located at 877 Island Avenue in the East Village neighborhood of downtown San Diego. Douglas Wilson Companies is the developer.

Patio walls have been poured into place, and waterproofing is underway in preparation for the finish pavement. Ornamental metal railings will be placed atop the patio walls to help define individual courtyard niches, while creating a sense of privacy and intimacy. The second-floor courtyard also will feature planters filled with lush landscaping, a cascading water fountain, ornamental metal finishes, and patterned concrete of various colors.

The building will be ready for occupancy by early fall of 2002. Parkloft offers unique, one- and two-story loft units ranging from 930 to 3,000 square feet, priced from the $400,000s.

The brick building’s exterior showcases a blend of both historic and contemporary architecture, reminiscent of the loft warehouses in the Soho and TriBeCa neighborhoods of Manhattan. Buyers of the traditional lofts will have the freedom to plan their own living spaces around an extensive list of built-in amenities, including 10’6”ceilings, exposed ducting, large operable Pella windows, French doors, hardwood floors, European-style kitchen and bathroom cabinetry, sub-zero refrigerators, slab granite countertops, and wiring with “future smart” technology.

Other features include an onsite fitness center, garage storage units, an onsite 24-hour doorman, and both subterranean and ground level parking for more than 200 vehicles. Hensel Phelps Construction Company is the general contractor. Denver-based Shears and Leese is the project architect, with KMA Architecture & Engineering as the local architect. Wimmer Yamada and Caughey is the landscape architect.

SAN DIEGO -- (May 17, 2002) -- Parkloft, a new $60 million, 120-unit, residential complex being built by the Douglas Wilson Companies adjacent to the new Padres Ballpark in the East Village neighborhood of downtown San Diego, recently was named a finalist in two categories, and a design award winner in a third category, at the 2001 Major Achievement Marketing Excellence (MAME) Awards.

Held at the Disneyland Hotel in Anaheim, Calif., the MAME Awards recognized all facets of new home marketing and merchandising in all six Southern California counties, including Ventura, Los Angeles, San Bernardino, Riverside, Orange and San Diego. The event was sponsored by the Sales and Marketing Council of the Building Industry Association (BIA) of Southern California.

Parkloft was named a finalist for Best Brochure for a Community, $350,000 - $600,000, and for Best Color Magazine Ad for two ads: “The Cello Player” and “The Artist.” Parkloft’s website, www.parkloft.com, also was named winner for Best Website for a Community or Builder.

Peggy O’Connell is the vice president of sales and marketing for Parkloft. Greenhaus, a San Diego-based advertising and graphic design firm, was the designer. Craig Fuller, principal of Greenhaus, headed the graphic design team, with Preetam Printz and Paul Terhaar as project designers.

“Parkloft represents one of the first genuine luxury loft buildings ever to be constructed in Southern California, and we needed to approach the graphics and design in a manner that would capture the authenticity and high quality of this project,” said O’Connell. “Our buyers are true visionaries and our materials and website were designed to appeal to these sophisticated ‘urban pioneers,’ while aptly explaining the unique concept of loft living.”

SAN DIEGO -- (May 10, 2002) -- Parkloft, a new $60 million, 120-unit luxury residential complex being built by the Douglas Wilson Companies adjacent to the new Padres Ballpark in the East Village neighborhood of downtown San Diego, recently was bestowed three prestigious design awards from “The Nationals,” the nation’s largest ad design competition, for ad and website design.

"The Nationals," held recently in Atlanta, Ga., recognized superior new home sales and marketing achievements by individual sales and marketing professionals, home builders and associates, and sales and marketing councils nationwide. The competition was sponsored by the National Sales and Marketing Council (NSMC), a division of the National Association of Home Builders (NAHB).

Parkloft was bestowed two regional awards, including Best Color Ad - Full Page and Under, for “The Cello Player;” and Best Website for a Community, www.parkloft.com. “The Cello Player” ad also was the recipient of a Silver Award, granted to those entries judged best in the nation for each specific category. The ad also went on to receive the National Gold Award.

Peggy O’Connell is the vice president of sales and marketing for Parkloft. Greenhaus, a San Diego-based advertising and graphic design firm, was the designer. Craig Fuller, principal of Greenhaus, headed the graphic design team, with Preetam Printz and Paul Terhaar as project designers.

“As the first luxury residential loft project of its kind in San Diego, we needed an unconventional approach to the graphics that would capture the high quality of this project,” said O’Connell. “Our materials were designed to appeal to the sophisticated ‘urban pioneers’ who are our potential homebuyers, while aptly explaining the unique concept of loft living.”

San Diegans eager to embrace the urban lifestyle reminiscent of culture-rich cities like New York, Denver, Baltimore and San Francisco are looking forward to authentic loft living, right here at home. Parkloft, a new $60 million, 120-unit residential loft complex now under construction in downtown's emerging East Village neighborhood, represents one of the first genuine loft building ever to be constructed in Southern California.

Parkloft will offer units ranging from 930 to 3,000 square feet, priced from the mid $300,000s. The 11-story, first-phase building is slated for completion in early fall.

Parkloft is being constructed entirely of brick and poured-in-place concrete, making it one of the only brick buildings in downtown San Diego. Its exterior will feature various colors of brick to blend historic and contemporary architecture, similar to the loft warehouses in the SoHo and TriBeCa neighborhoods of Manhattan and the LoDo area of Denver. The building also will feature generous terraces, decks and a central garden courtyard for comfortable outdoor living.

Buyers of Parkloft's unique, one- and two-story loft units will have the opportunity to plan their own living spaces around an extensive list of built-in amenities, including 10'6"ceilings, exposed ducting, large operable windows, French doors, hardwood floors, European-style kitchen and bathroom cabinetry, slab granite countertops, sub-zero refrigerators and wiring with "future smart" technology.

"Our buyers thus far have been true visionaries," said Peggy O'Connell, vice president of sales and marketing for Parkloft. "Not only are they able to picture the room and furniture layouts, but also the excitement of living in the heart of East Village."

Many lofts will overlook a large interior courtyard, complete with outdoor furniture and barbecues. Other features will include an onsite fitness center, additional garage storage units, an onsite 24-hour doorman, and both subterranean and ground level parking for more than 200 vehicles

"Parkloft introduces a whole new style of upscale, urban living for San Diego," said Doug Wilson, president of the Douglas Wilson Companies, developer of Parkloft. "It appeals to people whose lifestyles are centered around an appreciation for authenticity and sophistication. Living at Parkloft will put them in the heart of the city's cultural and entertainment venues and fine dining. It's an exciting time to live downtown."

Prospective buyers can view floor plans and amenities at Parkloft's sales studio located at 762 Fifth Avenue in the Gaslamp Quarter. For more information, call 1-877-PARKLOFT or visit www.parkloft.com.

SAN DIEGO -- (December 21, 2001) -- Construction has topped out for Parkloft, a $60 million, 120-unit residential loft complex located in the East Village neighborhood of downtown San Diego. Douglas Wilson Companies is the developer. Structural framing is now in place for the 11-story, 120-unit, brick and poured-in-place concrete building, situated on a 40,000-square-foot site at 877 Island Avenue. Construction is slated for completion early fall of 2002. A “topping out” ceremony, Heading for Home, was held onsite Friday, December 14. The event, which was attended by more than 250 prominent business and civic leaders, included a presentation by Doug Wilson, president of the Douglas Wilson Companies; Peter Q. Davis, chairman of the Centre City Development Corp.; and retired Padres baseball pitcher Randy Jones. Following a tribute to the men and women who constructed the poured-in-place concrete structure, a giant bucket of concrete with 13-foot streamers attached to the bottom was lifted by a crane to the top of the building in a melodramatic ceremony synchronized to the music of Pink Floyd and the Alan Parsons Project. “Heading for Home served as an opportunity to celebrate the revitalization of East Village, especially now that construction of the adjacent Padres Ballpark is moving forward,” said Douglas Wilson, president of The Douglas Wilson Companies. “East Village eventually will become the new urban core of downtown San Diego.”

“People who are interested in San Diego’s future have realized the true impact of this $450 million ballpark complex,” said Wilson, who also developed the $150 million Symphony Towers, one of downtown’s landmark high-rise buildings. “They’re seeing the ballpark for what it really is -- the development engine needed to propel the redevelopment of East Village and, in effect, ensure a vibrant downtown.”

Parkloft will offer unique, one- and two-story loft condominiums ranging from 930 to 3,000 square feet, priced from the mid $300,000s. The exterior will feature various colors of brick to blend historic and contemporary architecture, reminiscent of the loft warehouses in the Soho and TriBeCa neighborhoods of Manhattan. Many lofts will overlook a large interior courtyard, complete with outdoor furniture and barbecues. Other features will include an onsite fitness center, additional garage storage units, an onsite 24-hour doorman, and both subterranean and ground level parking for more than 200 vehicles.

Buyers of the traditional lofts will have the opportunity to plan their own living spaces around an extensive list of built-in amenities, including 10’6”ceilings, exposed ducting, large operable windows, French doors, hardwood floors, European-style kitchen and bathroom cabinetry, slab granite countertops, wiring with “future smart” technology, and optional fireplaces in most lofts. Douglas Wilson is the developer of Parkloft; Jim Womack serves as project manager; Mike Williams is the construction manager; and Peggy O’Connell oversees sales and marketing. Hensel Phelps Construction Company is the general contractor. Denver-based Shears and Leese is the project architect, with KMA Architecture & Engineering as the local architect. Founded in 1989 by Douglas Wilson, the Douglas Wilson Companies provides diversified real estate services throughout the Western United States. Headquartered in San Diego, the firm maintains offices in Los Angeles, San Francisco and Denver. More information about the company can be found at www.douglaswilson.com. Information about Parkloft can be found at www.parkloft.com.

For Doug Wilson, Parkloft is a dream come true. As president of the Douglas Wilson Companies, developer of the new, $60 million, 120-unit residential complex located in the heart of downtown’s emerging East Village neighborhood, Wilson has long wanted to bring the loft style of urban living to San Diego. “We wanted Parkloft to exude quality and authenticity,” says Wilson. “In order to make the loft concept work in San Diego, everything -- from the building materials and architecture, to the layout and amenities of each loft -- had to be the real deal.” Wilson’s dream began in Chicago, a city known for its authentic urban architecture, where he was born and raised. His career as a developer began when he moved to Denver in his early twenties to attend college. During that time, he renovated two projects on the National Register of Historic Places and a third project located two blocks from Coors Field, the home ballpark of the Colorado Rockies. “While living in Denver, I witnessed the transformation of lower downtown into one of the most vibrant, residential-based urban development districts in the U.S.,” says Wilson. “I was inspired by what I saw.” In 1986, Wilson moved his family to San Diego, where he since has developed a number of notable projects, including Symphony Towers, one of downtown’s landmark high-rise buildings.

In 1998, Wilson was involved in a development project in San Francisco that was located near Pacific Bell Park, the new ballpark being built for the San Francisco Giants. It was then that he heard the announcement of plans for a new San Diego Padres Ballpark. Having witnessed the success of developments around the new ballpark in San Francisco, Wilson considered a similar possibility for San Diego. “I had seen cities like Denver and San Francisco transform forgotten downtown areas into thriving metropolitan villages,” he says. “The East Village neighborhood held that same promise, especially with plans for the new ballpark already in the works.” Wilson was well aware that the loft concept would be a whole new ball game for San Diego. Still, he proceeded with looking into potential development sites and eventually procured a 40,000-square-foot block at 877 Island Avenue between Eighth and Ninth Avenues, just one block north of the new ballpark. “From the beginning, we knew we had to differentiate Parkloft from other downtown residential developments,” says Mike Williams, senior vice president of development and construction for Parkloft. “It had to look and ‘feel’ like an older building that had been renovated.” Wilson dismissed suggestions of constructing a steel or wood frame building. Instead, he insisted on using brick and poured-in-place concrete, even though doing so would add an extra $1 million to the cost of the project. “I’m a firm believer that if a project is worth doing, it’s worth doing right,” he says. It was important that the architecture be contemporary and sophisticated, and that the building resemble loft warehouses in the Soho and TriBeCa neighborhoods of Manhattan. Wilson appointed Denver-based Shears and Leese to design the building and KMA Architecture & Engineering as the local architect. Hensel Phelps Construction Company was brought on as the general contractor. “The true concept of a residential loft is taking an old warehouse and converting it into living space,” says Clint Squire, project manager for Hensel Phelps, which has done both warehouse conversions and new construction projects for loft developments in Denver. “Using concrete instead of steel to build Parkloft gives it that ‘older building’ feeling.” Squire points out that the biggest difference with Parkloft’s construction is the use of brick. “Many residential buildings going up downtown are being constructed mostly of glass and plaster,” he says. “A new brick building in San Diego is pretty unusual.” Currently under construction, the 11-story building will offer 120 unique, one- and two-story loft condominiums ranging from 930 to 3,000 square feet, with prices beginning in the mid $300,000s. Completion is slated for summer 2002. Buyers of the traditional lofts will have the opportunity to plan their own living spaces around an impressive list of built-in amenities, including 10’6”ceilings, exposed ducting, large operable windows, French doors, hardwood floors, European-style kitchen and bathroom cabinetry, slab granite countertops, wiring with “future smart” technology, and optional fireplaces in most lofts. According to David Whaley, who recently purchased a Parkloft condominium, the amenities are at an unmatched level of sophistication. “We were very impressed by the superb caliber of the amenities,” he says. “We previously had looked at a number of other downtown developments. The level of quality we found at Parkloft is rare.” Parkloft’s exterior design features various colors of brick and “setbacks” in a variety of locations to create numerous terraces and balconies accessible by residences. Many lofts will overlook a large interior courtyard, complete with outdoor furniture and barbecues. The 10th and 11th levels will feature one- and two-story penthouses with views of the city, San Diego Bay and the site of the new ballpark. Two subterranean levels as well as a ground level will accommodate parking for more than 200 vehicles. The complex also will offer an onsite fitness center, additional garage storage units and an onsite 24-hour doorman. “Because the building is still under construction, our buyers thus far have been true visionaries,“ says Peggy O’Connell, vice president of sales and marketing for Parkloft. “They’ve been able to visualize not only the room and furniture layouts, but also the excitement of living in the heart of East Village.” Prospective buyers can view floor plans and amenities at Parkloft’s sales studio located at 762 Fifth Avenue in the Gaslamp Quarter.

Many have considered Wilson to be “the first man in” on the Ballpark Neighborhood revitalization effort. Despite numerous delays in the ballpark’s construction, Wilson has forged ahead with the Parkloft project. “Those setbacks haven’t discouraged us,” he says. “We’re seeing this project through to completion without any hesitation.” “Doug is taking a step where others have not yet gone,” says Squire. “He’s investing in the future of East Village now. Down the road, Parkloft will prove to be a tremendous asset for the area.” A “topping out” ceremony, Heading for Home, was held at the site Friday, December 14. The ceremony included a short introduction from key project team members, a tribute to the men and women who constructed the poured-in-place concrete structure, and the crane lift of a giant bucket of concrete to the top of the building. “Completion of the ballpark will definitely help build excitement for East Village, but we’re not waiting around for that to happen,” says Wilson. “We’re building our own momentum. East Village is on its way to becoming downtown’s signature residential district, and Parkloft will be in its epicenter. It’s long been my dream.”

Demolition of the building on the south sideof Island, between Eighth and Ninth avenues, began immediately following Jones’ “first pitch.” Preliminary construction work is already under way on the 11-story, poured-in-place concrete and brick structure that will house Parkloft’s first phase of 120 condominiums, ranging from 930 to more than 3,000 square feet. The building site is one block north of the “Park at the Park” area of the San Diego Padres ballpark. The traditional lofts will have 10-foot, eight-inch ceilings, exposed ducting, large operable windows, French doors and hardwood floors. Many will overlook a large interior courtyard, accessed from the second level. The 10^th and 11th levels will feature one-and two-story penthouses with views of the city, San Diego Bay, and the ballpark. Parkloft’s pre-sales reservation program will begin in late October. Information is available at 1-800-PARKLOFT.

SAN DIEGO, CALIF. -- All 30 units in the initial phase of Parkloft were reserved during the first two months of presales for the condominium lofts project in downtown San Diego’s emerging East Village neighborhood.

Presales reservations began at the November opening of the Parkloft sales studio in the historic Gaslamp Quarter district, a few blocks from where the first Parkloft building is under construction on Island Street, between Eighth and Ninth avenues. The 11-story, poured-in-place concrete and brick structure will house 120 one- and two-story condominiums, ranging from 930 to more than 3,000 square feet.

Prices in the first phase ranged from $300,000 to slightly more than $700,000.

“We are very pleased with the strong demand for our condominium loft product and we fully expect strong interest in Parkloft to continue as we release the next phases over the next several months,” said Douglas Wilson, whose company, the Douglas Wilson Companies, is developing the $130 million project. Wilson expects to release the next phase in April.

Meanwhile, construction is under way on the 40,000-square-foot parcel on the south side of Island Street. When completed in mid-2002, the Parkloft building will include two subterranean levels as well as a ground level that will accommodate parking for approximately 200 vehicles.

Parkloft’s concrete building will feature various colors of brick as an exterior material. The building exterior design features setbacks in a variety of locations to create numerous terraces and balconies accessible from residences.

The traditional lofts will have 10-foot, eight-inch ceilings, exposed ducting, large operable windows, French doors, and hardwood floors. Many will overlook a large interior courtyard, accessed from the second level. The 10^th and 11th levels will feature one- and two-story penthouses with views of the city, San Diego Bay, and the site of the San Diego Padres ballpark.

A second Parkloft phase, including approximately 180 units, is planned for later construction on the 60,000-square-foot block across Island Street, immediately north of the first-phase building.

Additional information can be obtained at the Parkloft sales studio at 762 Fifth Ave., which is open between 9 a.m. and 5 p.m. weekdays, or by calling 1-877-PARKLOFT or visiting the www.parkloft.com Web site.

Founded in 1989, the Douglas Wilson Companies provides diversified real estate services throughout the Western United States. The firm is headquartered in San Diego with offices in Los Angeles, San Francisco and Denver.

SAN DIEGO - The Douglas Wilson Companies today announced that it has arranged a $39.6 million loan with San Diego National Bank to finance the construction of its Parkloft residential lofts project now under way in the East Village neighborhood of downtown San Diego.

Parkloft LLC, the development entity in which Wilson is the managing partner and New York-based Lehman Brothers Holdings an equity partner, will use the loan proceeds to build out the 11-story, poured-in-place concrete and brick structure that will house 120 one- and two-story loft condominiums on a 40,000-square-foot parcel on the 800 block of Island Street. Concrete work began at the site in late January.

When completed in mid-2002, the Parkloft building will include two subterranean levels as well as a ground level that will provide parking for approximately 200 vehicles.

Meanwhile, all 30 units in the initial phase were reserved during the first two months of presales at prices ranging from $300,000 to slightly more than $700,000. A second phase is due to be released for reservations early this summer.

“We’re pleased that San Diego National Bank is participating as our construction lender,” Wilson commented. “They’ve seen the positive response we’ve had from prospective buyers and, as a local bank, they understand the dynamics of what’s taking place in downtown San Diego and the value this project brings to the area.”

Parkloft’s concrete building will feature various colors of brick as an exterior material. The building exterior design features setbacks in a variety of locations to create numerous terraces and balconies accessible from residences.

The traditional lofts will have 10-foot, eight-inch ceilings, exposed ducting, large operable windows, French doors, and hardwood floors. Many will overlook a large interior courtyard, accessed from the second level. The 10th and 11th levels will feature one- and two-story penthouses with views of the city, San Diego Bay, and the site of the San Diego Padres ballpark. Two subterranean levels as well as a ground level will accommodate parking for approximately 200 vehicles.

A second Parkloft phase, including approximately 180 units, is planned for later construction on the 60,000-square-foot block across Island Street, immediately north of the first-phase building.

Additional information can be obtained at the Parkloft sales studio at 762 Fifth Ave., which is open between 9 a.m. and 5 p.m. weekdays, or by calling 1-877-PARKLOFT or visiting the www.parkloft.com Web site.

Founded in 1989, the Douglas Wilson Companies provides diversified real estate services throughout the Western United States. The firm is headquartered in San Diego with offices in Los Angeles, San Francisco and Denver.

SAN DIEGO - Early buyers and others will be able to see first hand many of Parkloft’s standard features this month -- a year before construction is complete on the upscale condominium lofts project now under way in downtown San Diego’s East Village neighborhood.

Beginning June 16, the Douglas Wilson Companies will host the week-long “Inside Parkloft - A Sneak Preview” at which the custom-quality Pellaâ windows, window treatments, and Studio Beckerâ kitchen cabinetry will be on display at the Parkloft Sales Studio, located at 762 Fifth Ave. Also on display over that weekend as well as during the following week will be the standard GE side-by-side refrigerator and microwave oven and a full-scale assembly of the French doors that are included in every Parkloft unit.

Photos and exhibits of other standard features and upgrades also will be available at the sales studio as well, said Thomas Bullock, Parkloft sales manager.

“These and other standard features and optional upgrades are important to the unique Parkloft experience,” Bullock said. “These are top-grade amenities that will make our condominium lofts very special.”

The sales studio will be open from 10 a.m. to 5 p.m. on June 16, from 11 a.m. to 5 p.m. the following day and from 11 a.m. to 7 p.m. from Monday through Friday of the following week.

PARKLOFT ‘SNEAK PREVIEW’ TO DEBUT JUNE 16

Meanwhile, work is progressing on schedule on the brick and poured-in-place concrete building located in the 800 block of Island Street. When completed in the summer of 2002, the brick and poured-in-place concrete building will house 120 one- and two-story loft condominiums.

All 30 units in the initial sales phase have been reserved at prices ranging from $300,000 to slightly more than $700,000. A second phase is due to be released for reservations early this summer.

Parkloft’s concrete building will feature various colors of brick as an exterior material and setbacks in a variety of locations to create numerous terraces and decks accessible from residences.

The traditional lofts will have 10-foot, eight-inch ceilings, exposed ducting, large operable windows, French doors, and hardwood floors. Many will overlook a large interior courtyard, accessed from the second level. The 10th and 11th levels will feature one- and two-story penthouses with views of the city, San Diego Bay, and the site of the San Diego Padres ballpark. Two subterranean levels as well as a ground level will accommodate parking for approximately 200 vehicles.

A second Parkloft building, which will include approximately 180 units, is planned for later construction on the 60,000-square-foot block across Island Street, immediately north of the first-phase building.

Additional information can be obtained at the Parkloft sales studio at 762 Fifth Ave., which is open between 9 a.m. and 5 p.m. weekdays and from 11 a.m. to 5 p.m. on Sundays or by calling 1-877-PARKLOFT or visiting the www.parkloft.com Web site.