Civitas Capital Group, based in Dallas, has recently started construction on a new 76-unit luxury apartment complex in the North Park neighborhood of Balboa Park in San Diego. The project is located at 4080 32nd St. and comes at a time when the housing market is facing a shortage, especially in Balboa Park where there are no expected new deliveries between Q2 of 2025 and Q3 of 2026.
According to Jorge Adler, director of investments at Civitas, one major factor that allowed this project to move forward while others could not was its eligibility for funding through the EB-5 Immigrant Investor Program. The location falls within a Targeted Employment Area as defined by UCIS.
Kelly Lindig, director of development at Civitas stated that they were able to close on the land for this project in September and begin construction within just thirty days thanks to their team’s experience with development and construction processes from previous projects throughout Texas and California. This groundbreaking marks an important step towards addressing the housing shortage issue faced by many communities like Balboa Park.
