American National Investments shapes the future of redevelopment

by Joice T. Curry
Special to The Daily Transcript
Oct. 30, 2003

American National Investment's Acqua Vista project in Little Italy. The Class A, two-tower, residential, 383-unit project is almost complete with first occupancies scheduled for March 2004.

With all the development going on in San Diego these days, there doesn't seem to be much need for another big player. However, American National Investments (ANI) is different, very different.

ANI combines mixed-use retail, entertainment and living opportunities and redevelops long-neglected properties into thriving destinations.

Just take a look as you drive through San Diego. The development of the urban renewal and growth of the mixed-use space is vast and ANI is working on some of this year's most exciting contributions to the future of this region's redevelopment.

ANI is made up of four core divisions, development and redevelopment (ANI Equities), residential homes (ANI Homes), property management (ANI Property Management), and commercial real estate, (ANIactive Commercial Brokerage). The residential homes division, which does sales in-house for all of ANI's housing projects, as well as represents buyers and sellers of residential real estate, is working on such unique projects as the historic Klauber House in Bankers Hill, which is listed at $2,650,000.

Always striving to do better, back in June, ANI merged with Active Investments, another boutique commercial real estate company, to form their commercial real estate division, ANIactive Commercial Brokerage. The new boutique firm offers the same traditional services as other commercial real estate entities, but will draw from ANI's core competencies and Active Investments industry knowledge, bringing a unique blend of experience and expertise representing such clients as the Coronado Ferry Landing. This new merger has allowed ANI to step up their efforts of redeveloping San Diego and forming new alliances.

One such area is Little Italy. Located in downtown San Diego, Little Italy was once a forgotten area of San Diego, where only a few had the pleasure of taking in the culture, is now being revitalized. ANI facilitated the acquisition and the subsequent development of a 60,000-square-foot block located in Little Italy. Already under redevelopment in many parts by other real estate companies, ANI also found value in this area. ANI brought in Watt Commercial Properties from Los Angeles to purchase and develop a full city block in Little Italy transforming it into the Class A, two-tower, residential, 383-unit project called Acqua Vista (formerly called Watt Little Italy). Construction is almost complete with first occupancies scheduled for March 2004.

ANI and Watt are not stopping there. In early 2004, ANI and Watt will once again put their efforts together to transform the former First National Bank building. This project, called Broadway Lofts, will bring 84 live/work lofts to the Columbia/Core district of downtown. Occupancy should be ready by first-quarter 2005.

ANI is also making current living conditions better. They are currently working on a deal with a property owner to bring another grocery store to downtown, as well as some potential affordable housing in the barrio, adding to the already extensive work that they have done in the Golden Hill and South Park neighborhoods.

ANI is truly working for the betterment of the people of San Diego by taking rundown neighborhoods and buildings and transforming them into places for people to visit and live. There's no telling what San Diego will look like in the future, but one thing is for sure -- ANI will be part of it.

Curry is president and chief executive officer of c3 Communications Inc.