The William Penn

This iconic historic building is located in the heart of the Gaslamp Quarter in downtown San Diego. The mixed-use building was a prime candidate for repositioning with all 18 apartment units in need of an upgrade and a commercial vacancy on the ground floor to be filled along the high foot traffic nightlife corridor of Fifth Street. Maxxam pursued a full-scale renovation throughout the building, upgrading the kitchens and bathrooms with state-of-the-art appliances and finishes. Upon completion of the project, all the residential units were successfully leased at market rent levels, and the commercial space was leased to a popular Mexican restaurant.