04/29/2026
𝗦𝗮𝗻 𝗗𝗶𝗲𝗴𝗼 𝗶𝘀 𝗼𝘃𝗲𝗿 𝟵𝟬,𝟬𝟬𝟬 𝘂𝗻𝗶𝘁𝘀 𝘀𝗵𝗼𝗿𝘁 𝗳𝗼𝗿 𝗮𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗹𝗲 𝗵𝗼𝘂𝘀𝗶𝗻𝗴.
The geography is the part most people miss. San Diego cannot grow outward. The Pacific Ocean sits to the west. Mexico to the south. Los Angeles to the north. Mountains and desert to the east. The land is finished. The city cannot grow out.
So the only honest answer to the housing shortage is density. The only way to add housing in San Diego is to make better use of the space we already have. California's ADU legislation finally made that legally and operationally possible at scale. The question now is who is willing to do the work.
That is exactly where TLC Ventures focuses. Our ADU development converts underutilized space, like a garage untouched for 20 years, into real, functional living space. This is not theoretical. We have already acquired three San Diego properties in 2025, with permits in hand, construction underway on two of the three, and permits on the third coming soon.
Our founder, Tracy Cumberbatch, served 22 years in the Navy, including back to back tours in San Diego on the waterfront and at the Naval hospital. She watched co-workers commute in from Temecula, Murrieta, Orange County, and even Lake Elsinore. Senior enlisted and officers. Not even the junior Sailors. That was over 10 years ago. The situation has only gotten worse since. We have seen the cost of inaction up close.
This is not glamorous work. It does not make headlines. But it is the kind of disciplined, infrastructure-level problem solving that actually moves the needle.
The best solutions are rarely the loudest ones. They are the ones that fit the constraints, respect the people, and get executed with discipline. ADU development in San Diego is exactly that kind of work. It is service in a different uniform.
This is what aligned investing looks like. Returns that come from solving problems, not avoiding them.
If you want to see how disciplined, mission-driven investing works in this market, send us a message. We are always happy to walk through the strategy.
Our first San Diego ADU project for 2025: a 10-unit building where 9 garages are becoming 8 new studios.
