CEDARst Breaks Ground on $89M San Diego Multifamily Project in Opportunity Zone
National real estate developer CEDARst Companies has broken ground on The Lawson, an $89 million ground-up multifamily development located at 2935–2961 A Street in San Diego’s South Park neighborhood.
Situated in a qualified opportunity zone, The Lawson is among six active or planned projects in the company’s pipeline.
Spanning 216,000 square feet, the eight-story project is slated for completion in November 2027. Developed in partnership with Bridge Investment Group, the project will add 180 new residences ranging from studios to two-bedrooms along what CEDARst called “a walkable corridor linking South Park and Golden Hill with a mix of market-rate and affordable units.”
Located two blocks from Balboa Park, the property will offer residents easy access to one of San Diego’s most celebrated cultural and recreational landmarks. Amenities will include 149 on-site parking stalls, a wellness facility that includes a hot tub, cold plunge, and sauna, a two-story gym, and a rooftop deck offering sweeping views of the San Diego Bay and downtown skyline.
More than half of the residences (51%) will be priced at affordable housing levels, supporting San Diego’s housing needs while reflecting the inclusive and diverse character of the surrounding South Park and Golden Hill neighborhoods.
“This project represents a meaningful continuation of our investment in San Diego,” said Will Murphy, chief executive officer and managing partner at CEDARst. “With The Lawson, we’re bringing attainable housing to a centrally located neighborhood, while working closely with the community to ensure the design and scale reflect the local context.”
CEDARst engaged residents through numerous public meetings, surveys, and coordination with the city councilmember’s office to align the project with the city’s development priorities.
The Lawson marks the fourth collaboration between CEDARst and Bridge Investment Group, furthering their shared vision for impact-driven housing in key U.S. markets.
The project is part of CEDARst’s nationwide portfolio of qualified opportunity zone developments. Across San Diego, Chicago, South Florida, and Las Vegas, CEDARst is engaged in various stages of planning, development, construction, and management on QOZ projects totaling $500 million and 1,600 units. In June of this year, CEDARst broke ground on its first Florida OZ mixed-use development.
Bridge Investment Group is an affiliate of Apollo (NYSE: APO) and an alternative investment manager, diversified across specialized asset classes, with approximately $50 billion of assets under management as of June 30, 2025.
CEDARst Companies is an integrated real estate developer, headquartered in Chicago. CEDARst currently manages a portfolio of multifamily real estate valued in excess of $4 billion, totaling more than 10,000 units across numerous markets, including Chicago, San Diego, Portland, Minneapolis, and Cleveland.
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