Eagle Point Development is the successor to Pacific Management, a sole proprietorship that started in 1976 as a land investment and development company. After several successful subdivision projects, the company was more formally organized to take advantage of joint venture opportunities in the Real Estate market. During the 1980’s, Eagle Point built and sold several apartment and industrial projects. All the apartments were in the City of San Diego, targeted to lower-income renters. Along with several partners, Eagle Point built over 1,200 apartment units over a five-year period. After the Tax Reform Act of 1986, Eagle Point shifted into the industrial sector and teamed up with a landowner in Otay Mesa to develop and build industrial buildings for their clients. Several projects were built, including a refrigerated warehouse for one of the largest vegetable growers in Mexico.
The last ten years have been spent working in the condominium sector of the market. Eagle Point participated in the creation of over 600 affordable condominiums in Southwest Riverside County, and over 400 units in the Sacramento area. Eagle Point was also a consultant on over 500 condo conversion units for an institutional investor.
The last project completed was a mixed-use urban project in City Heights section of San Diego. Unfortunately, market timing couldn’t have been worse, and the company was hit with the worst residential real estate market in the history of San Diego when the units went on the market. The project was sold to the San Diego Housing Commission and will provide affordable housing for nearly 40 families for the next 55 years or longer.