Ruby Falls Fund is excited to bring to the community of Monterey the Cannery Row Plaza, formally known as "Ocean View Plaza". Ruby Falls Fund, owned and managed by principals Eric Jones and Bob Faulis, are finally completing the well-known and fully approved mixed-use project located on Cannery Row.
Eric and Bob are committed to delivering a project the City of Monterey community will be proud of and look forward to filling in the decades old gaping hole on Cannery Row with a vibrant project that completes, but does not drastically change all that Cannery Row currently offers.
Eric Jones a 20+ year veteran of the real estate industry, with expertise with master plan development, single family residential development, and sales and marketing of urban residential infill and redevelopment. He began his real estate career as Vice President of Land Acquisition for The Donald L Bren Company, the home building division of the Irvine Company. Eric has overseen the sales management, marketing and branding strategies for several urban developers in California, including Lennar/Intergulf Development, Centurion Partners and Smart Corner, LLC. He has provided this expertise on projects valued at over $1 billion dollars.
Besides Eric’s strong experience in development, he has a big heart for helping children and the less fortunate of the community. He has been: a past Board of Director Member for the Building Industry Association (“BIA”) of San Diego County; past member of the BIA Sales & Marketing Council Board of Directors; founding Board Member for National Assoc. of Home Builders – HomeAid Foundation; founding Board Member, President of BIA Cares for Kids Foundation; nominated as a “Life Director” for BIA Cares for Kids Foundation; chairperson overseeing the BIA Cares Holiday Bike Drive for last 21 years; involved with fundraising and construction of Pro-Kids Golf Foundation’s million dollar state-of-the-art after school kids facility in Colinas Park, California; chairman of the Barrio Station construction expansion and computer education center for after-school programs; and a founding board member of San Diego Chargers Players Foundation.
Bob Faulis has had a career ingrained in small business enterprise, governmental procurement, hospitality, technology, and real estate. Bob entered the Real Estate Industry in 1996 and operated in the commercial lease market for Coldwell Banker. He provided demographic and market data to a national franchise organization for whom he researched markets, franchisees, identified locations and negotiated lease/purchase terms. In 2008 Mr. Faulis transitioned into distressed assets helping one of the largest holders of real estate in Manhattan NY to sell off distressed properties quietly as off market opportunities. It was this foundation in the heart of the 2008 meltdown that helped navigate the rocky and perilous road to development which Cannery Row Plaza presented.
After close to three years of due diligence, strategizing and creating the right contacts; Ruby Falls Fund acquired the 29 parcels at 484 Cannery Row. It is with vision and excitement that the team embarks towards the final stage of building out a project the serves the needs of the community and contributes to the vibrancy which it is known for.
The project is expected to be a great community driven success due to the background and experience of the two principals, who have childhood ties to the area along with a long history of development success in both mixed-use and distressed properties. Cannery Row Plaza provides a canvas to create an amazing project for the City of Monterey. Along with their sister company, Urban Housing Partners, Ruby Falls Fund are in the process of drafting the final design and construction documents required to break ground in mid-to-late 2019.
Urban Housing Partners
Deeply rooted in the San Diego development community, Urban Housing Partners has a reputation of bringing significant value to every project in which we are involved. The firm has been successful in the development of large scale urban master plans, for-sale housing, high-density rental housing, retail, commercial, urban mixed-use, modern lofts, and upscale luxury penthouses in the Downtown San Diego market, as well as other markets of San Diego County. Each member of the team brings experience and expertise in the areas of: political strategy, project and construction management, strategic marketing management and community outreach, project feasibility, negotiations and finance.
The firm was founded by two industry leaders: Sherman D. Harmer and Michael Dunham. Both Sherm and Mike are long-time veterans of the home building and urban planning industries. They have over 70 years of combined development experience and have led the development of over 15,000 homes throughout Southern California. UHP’s leadership maintains the momentum of the development process beginning with conceptual stages; to project feasibility and financing; through project development and construction management; and the marketing phases of the final product.
The corporate team includes: a California State Licensed General Contractor, a California State Licensed Real Estate Broker, and experienced associates who effectively facilitate all phases of development.