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Rincon Homes Withdraws 33-Condo Roosevelt Street Project Before the Council Hearing

inewsource reported that Rincon Homes withdrew its application for a four-story, 33-condo project in Carlsbad Village before the City Council could act on it. Applicant Jonathan Frankel sent a withdrawal letter to the City Council on Tuesday, Sept. 29, 2026. The project, called Rincon Roosevelt, had been placed on that day's council agenda after the Planning Commission recommended approval in February.

What was pulled

The proposal covered a 0.69-acre lot at 2747 and 2775 Roosevelt Street, now a real estate office and eight apartments. Plans called for 33 condos, 42 parking spaces, and 3,419 square feet of commercial space. The developer had proposed using the state's Density Bonus Law and including five lower-income units so the project could exceed the 25 units allowed under current zoning. The plan would have demolished eight existing apartments. City staff said those tenants have protections under the Housing Crisis Act of 2019 because they are considered low-income, and that the city cannot approve the project unless those requirements are satisfied. Staff wrote that there was sufficient evidence to deny the project because the applicant could not show full compliance. Staff also said the state housing department told them verbally it would not pursue the city for an approval, but declined to put that in writing.

Frankel wrote that the company had been working with the city on how to proceed. "We felt it was important to take a step back and re-evaluate the proposal to assess potential alternatives," he said. "We look forward to bringing forward a project that delivers affordable housing, supports small businesses, and implements the City's vision for a vibrant village area." A city memo said the withdrawal does not stop the applicant from filing the same or a different application on the property later.

Why it matters

• This is not an approval and not a denial. Council had no project left to vote on Tuesday.
• Village buyers watching new for-sale condos should treat Roosevelt Street as off the current agenda until a new application is filed.
• The eight existing apartments, and the tenant-protection rules attached to them, are why this version stopped.

Sources: inewsource on the Rincon Roosevelt withdrawal (updated Sept. 30, 2026); inewsource on the Roosevelt Street proposal ahead of the Tuesday hearing.

Related on this site: Carlsbad Village Square condos; the Ponto coastal hearing. Those are different sites.

More Carlsbad mortgage help and the Carlsbad news board.

For a buyer in the Village, a withdrawn condo plan is a supply question, not a closed sale. See Carlsbad mortgage help.

Left Coast Leaders, Inc. · NMLS #2394495 · DRE #02191517 · Equal Housing Lender. Local news briefings are for general information and are not formal appraisals or loan commitments.