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The Carter Reese & Associates Story

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Carter Reese and Associates is an urban development company specializing in carefully planned, in-fill projects. They have evolved the definition of smart growth with innovative residential and mixed-use projects that enhance the existing character of urban, older neighborhoods in San Diego. Carter Reese and Associates has become one of the leading entities in defining smart growth.

The Professional Builder Magazine confirmed that Carter Reese and Associates was on the right track in October 2001 when an industry leader observed, “In California, builders are going to have to aggressively look for urban infill opportunities because to continue building in suburbia cannot be the answer”.

Both Tom Carter and Reese Jarrett are native San Diegans. Former banking colleagues in real estate finance and development, their paths crossed again, ten years later, after both had shifted into real estate development. Discovering they shared a vision of promoting homeownership in communities, focusing on urban in-fill development, and offering high quality, affordable projects, their dynamic partnership, Carter Reese & Associates, began in 1993.

The story of Carter Reese and Associates is really about two men committed to the same dream of helping to provide San Diego residents with creative, comfortable, affordable living environments; close to transportation, work and neighborhood services. Two people determined to build the same kind of quality neighborhoods they both experienced as children.

The combined professional experiences and common mission of the Principles resulted in a distinctive capability to create a unique product mix that has received unprecedented market acceptance.

They started building in familiar territory. The firm’s first project, Jarrett Heights, was named for Reese Jarrett’s father. This single-family community of 23 homes is located in Lincoln Park, where Jarrett was raised, and helped stimulate investment in that struggling neighborhood. Another of their award winning developments, Cypress Hills, is near Hillcrest where Tom Carter grew up. The project was featured in the Professional Builder and was credited with transforming the site from an abandoned eyesore into a contemporary community with beautiful views of San Diego Bay.

An article in the San Diego Magazine describes their legacy this way, “The rescue and revitalization of neglected properties has become the trademark of Carter Reese and Associates”.

The Urban Land Institute profiled the company’s hallmark project, Marston Point Place. This 42-unit urban development is located on the edge of Balboa Park’s historic Marston Point, in the heart of San Diego, and won acclaim from the Builders Magazine for Choice Design and Planning. The project was described as “a development of suburban style, for-sale homes in an urban setting”. It offers four extraordinary housing products in one city block.

Mission Hills Commons is a mixed-use project of retail, residential loft space, apartments and row homes. The site is located along Washington Street, a primary transit corridor in the heart of Mission Hills. Street trees, wide sidewalks, large street level shop windows, benches and a pocket park will help create the pedestrian friendly environment that Carter Reese envisions. The design blends a variety of architectural styles but leans primarily toward the craftsman-inspired features found throughout the Mission Hills neighborhood.

Carter Reese and Associates has successfully completed nine projects since 1993 accounting for over 221 units which has earned them the reputation of quality real estate builders. In 2002, Carter Reese and Associates was named “Urban Housing Developer of the Year” by the Black Contractors Association of San Diego. The company was presented with the, Builder’s Choice Design and Planning Awards, by Builder Magazine in October 2001. The American Planning Association recognized the work of Carter Reese and Associates with the Section Planning Award for Outstanding Planning Category in June of 2000.

Reese A. Jarrett

Following a successful seven-year career as a bank loan officer, Reese Jarrett became president of the Southeastern Economic Development Corporation (SEDC). From this position in urban planning and development, Jarrett launched his own asset management and real estate development company, where he developed, marketed and sold more than 175 commercial and residential projects before becoming General Partner of Carter Reese & Associates.

Thomas F. Carter

In the twenty plus years Tom Carter spent in real estate finance and banking, he established a superior reputation in the industry and developed several innovative urban lending programs. Having honed his skills in the areas of real estate loans, financial operations, development and sales, his passion to improve San Diego communities led him to transition into real estate development in the late 80's. Since that time, Carter has developed over 1,500 housing units, primarily in the San Diego area.

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