Conrad Prebys, who's given millions away to area hospitals, universities and nonprofits, recently purchased land in Santee. Prebys paid $36 million for two adjacent parcels near Mission Gorge Road, which total 33.28 acres. The property could be used to build at least 977 apartments, according to reports.
The Daily Transcript reported that Prebys, who made his fortune in real estate and construction, was the winning bidder on the property at a county auction in January.
It reported that Prebys paid more than twice the twice the minimum bid for the first parcel and almost three times as much for the second parcel. Adam Weinberg, San Diego County's chief of real estate services, told newspaper about 12 other people showed up to the auction.
The 22.15-acre parcel near Cottonwood Avenue and Park Center Drive could yield at least 631 apartments and the adjacent 11.13-acre parcel another 346+ units under current zoning, it reported.