- The Savory Group was hired January of 2015 by 3415 Funding LLC to market the unique 14 story, 14 unit residential condo tower which foreclosed underdevelopment in 2009; formerly called Mi Arbolito which sits on the northwest corner of Balboa Park.
- Challenges presented with the project included sub-par finishes, an HOA fee of over $1,000 per month, no amenities, undesirable parking, and a desperate need of a new public image.
- March 2015; The Savory Group began their marketing under a rebranded effort, naming the project Park One and selling the top 2 floors beneath the penthouse for full asking price within the first 30 days.
- Second quarter of 2015; two new significant developments came to market resulting in a reduction in buyer activity with feedback concerning interior property condition in comparison to the new developments in direct completion. The Savory Group proposed a renovation of the 9th floor, in which the team selected all material finishes, and managed the complete renovation.
- Within 3 days of finishing the renovation, The Savory Group achieved the third sale, and obtained 10 new contracts, of which 6 were executed with a creative renovation package proposed by The Savory Group and built into the pricing, which improved the equity position of ownership.
- The Savory Group maintained an onsite operation to manage the ongoing renovations for new homeowner satisfaction and maintain sales momentum.
- The Savory Group was instrumental in obtaining project approval with Wells Fargo
- The Savory Group was hired July of 2014 by the Pernicano family to market the 30 year vacant site in Hillcrest as a development opportunity.
- In September 2014, they began their marketing efforts of the property to the development community and obtained over a dozen qualified offers from local and national developers.
- After selecting a noteworthy offer, Jeannine proceeded into contract negotiations in spring of 2015.
- During this time, the community plan for the area was being updated and the Uptown Community Planning group made an effort to downzone from 109 units per acre to 44 units with a significant reduction in FAR, which would result in a substantial devaluing of the Pernicano property.
- Contract negotiations halted and Jeannine proceeded with a density preservation coalition formed with neighboring stakeholders.
- She immediately assembled a team of the best land entitlement experts in the city to contest the downzone by strategically approaching city staff and the Uptown Community with information and renderings to aid them in understanding the importance of maintaining density in the gateway to Hillcrest.
- With the help of land entitlement expert, Sherm Harmer of Urban Housing Partners; Jeannine formed the Hillcrest Gateway Council (HGC) which consists of other Hillcrest property owners and land use consultants.
- Throughout 2015, Jeannine continuously attended Uptown Planning meetings and spoke on behalf of the Pernicano family as well as conducted community outreach to voice our concerns and insight as the Uptown Planners were preparing to vote on the proposed plan.
- She improved the balance on the Uptown Planners with the March 2016 elections by handpicking and endorsing candidates of which we successfully positioned two additional members to the board of the Uptown Planning Committee who are sophisticated in urban infill development and land use.
- The city council approved the Hillcrest Gateway plan with 7-2 vote to deny the downzone, maintain density, and create a specific plan that would be implemented down the road to increase density. With this we were able to remarket the property and successfully sale builder that could now have confidence in the development opportunity and guide the community to the future Hillcrest deserves as a vibrant, walkable community.www.sandiegouniontribune.com
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