CEDARst Companies and Quartz Lake Capital have announced their plans for a new multifamily development in San Diego, called FLATs Bancroft. The project will be located at 3760 to 3794 Bancroft St. and is estimated to cost $103 million. It will consist of 218 rental units.
The joint venture has also recently revealed its plans for another project in the Hillcrest submarket, called FLATs Hillcrest. This development will cost $145 million and include 301 units.
FLATs Bancroft will offer a variety of living options with 78 studios, 121 one-bedroom apartments, and 21 two-bedroom residences spread across its total area of over
255,000 square feet. There are also plans for ground-floor retail space totaling at least
3,000 square feet.
According to CEDARst CEO Will Murphy,
the company’s goal is to create high-quality multifamily projects that integrate seamlessly into the surrounding community while promoting accessibility and equality in housing options.
Construction on FLATs Bancroft is expected to begin during the second quarter with an anticipated completion date of May
2026 for the first set of units.
This announcement marks yet another exciting step forward for CEDARst Companies and Quartz Lake Capital as they continue their efforts towards creating exceptional developments within San Diego’s vibrant neighborhoods.
