C3 Development’s story begins in 2002 when Mark Heavey pioneered the first commercial condominium project in Silicon Valley with Venture Corporation. At a time when the market faced a staggering 94 million square feet of vacancy after the dot-com bust and September 11th, Mark and his team saw an opportunity where others saw a downturn. Venture’s innovative development strategy led to the successful sellout of 20 commercial condominium units, ranging from 2,000 to 5,000 square feet and sparked a movement in the Bay Area.

With investment capital from New York, Venture expanded its projects across the West Coast, completing over 1,000 commercial condominiums, including four key developments in San Diego with the assistance of Phil Linton. This success led to the reunion of Mark and Phil after the Great Financial Crisis to create C3 Development.

C3’s focus has shifted to transforming existing leased properties into vibrant commercial condominiums, minimizing costs and risks by avoiding new entitlements or environmental impacts. Since acquiring its first project in 2019, C3 has completed three additional projects and is rapidly selling units in four more. We’re continuing to acquire properties at substantial discounts to replacement costs, solidifying our reputation as leaders in the commercial condominium market.