Apartments Are the Standout Development in San Diego
Tenant demand in downtown San Diego is booming, and developers are responding. As of December 2015, more than 10,000 residences were planned within the scope of 63 projects and $6.4 billion in construction, according to the San Diego Union-Tribune. Millennials in particular are flocking to Centre City for apartments San Diego, even though many have to commute to work outside of the area. The draw? Downtown city life – bars, restaurants, coffee shops, and the general convenience of walkable neighborhoods. It’s obvious that the benefits of living in this desirable location far outweigh the negatives for most young people, especially if they’re willing to put up with longer commutes and congested traffic on a daily basis in order to do it.
Downtown Improvements Draw Millennials It also helps that the downtown area is benefitting from increased expansion and renovation. Just a few of the upcoming projects on tap include a brand-new city hall, a convention center expansion, a downtown stadium, and redevelopments of shopping centers such as Seaport Village and Horton Plaza. This could be a response to Millennial demand, or Millennials themselves are simply responding to the improvements which make the area more desirable. It may be safe to say that the road goes both ways, and each factor increases the likelihood of the other – the two trends are mutually beneficial.
San Diego’s Appeal Is No Secret That’s not to say that this “development” is surprising. San Diego is a highly desirable place to live, and not just the downtown area. The climate is as close to ideal as it gets, as any person knows who is well acquainted with sunny Southern California weather. The city itself is beautiful, scenic and historic, with a prime location along the coast. Meanwhile, the job market continues to improve, and fared far better than other locales in Southern California after the 2008 recession. Finally, San Diego’s rich culture cannot be ignored, which includes Mexican, Native American Indian, and Spanish roots, and grand Mission-style architecture. Any improvements made to downtown are the icing on the cake.
Apartment Developments Underway Rental properties under construction include apartment buildings such as The Rey (named for Mission San Louis Rey in Oceanside), a 24-story project with 939 units, a rooftop pool, a kitchen and dining area, club space, and a fitness center. It will mostly contain studio apartments and one-bedrooms, definitely a standard for the area and apartments in San Diego. Other developments include condos, hotels, and a state courthouse. Downtown apartments in San Diego are what the younger generation wants. They seek to live where the action is, not to mention the chance to be a part of a bustling scene in the city center. They additionally want culture and nightlife with the convenience of walkable neighborhoods. The fact that developers in the city are paying attention and answering this call speaks well for San Diego’s ability to thrive and grow well into the future.