MONDAY, FEBRUARY 21, 2011 AT 10:53 A.M.
The Thomas Jefferson School of Law's new downtown campus now has official student housing.
Security Properties, a Seattle-based real estate investment company, has leased 172-unit Entrada Apartments to school officials in a 15-year agreement.
The building, at 13th Street and Island Avenue in East Village, is currently housing students, and a waitlist is in place for future vacancies.
The law school, formerly in Old Town, finished its relocation to downtown San Diego in January. School officials hope to increase enrollment from 950 to 1,000-plus in the coming year, explaining their need to provide student housing.
“The situation is ideal and substantially enhances both our ability to recruit the highest quality student body to Thomas Jefferson School of Law, and to provide a greater economic benefit to the East Village community which has been so welcoming to us," said Associate Dean for Student Affairs M. Elizabeth Kransberger, in a statement.
Law school officials plan to charge market-rate rent for the apartments. In some cases, they will offer need and merit-based housing grants to students. About 90 percent of Entrada's units are studios with rent ranging $900-$1,200.
Security Properties, the company that leased out the building, acquired Entrada in July 2010 for $22 million. The apartment complex is the company's sole San Diego property though it has owned properties in the county before.
The apartments were built in 2004 and includes a mix of studio, loft, one-bedroom, two-bedroom and three-bedroom apartments. The building also has a renovated rooftop common area, interior courtyard, fitness center and underground parking.
Security Properties’ focus is primarily West Coast properties, including Seattle, San Francisco and Portland.
Source: SignOnSanDiego
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