X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SAN DIEGO-Condominium development has made its comeback in San Diego, with the unlikely combination of favorable new legislation, a housing crisis and a thriving Downtown residential scene.

Downtown San Diego is poised to become the high-rise condominium capital of the West Coast, with some 8,400 units in the pipeline. Over the last year-and-a-half, downtown San Diego has exploded on the construction scene, producing high- and mid-rise condominiums at a rate never seen before, says Bill Shaw, vice president of business development for Roel Construction, which is building L & L Center LLC’s twin-tower Renaissance project.

State legislation requiring mandatory arbitration of construction defect claims has created endless opportunities on the horizon for the downtown skyline, Shaw says. An owner-provided wrap insurance policy which covers all parties, including architect, developer, and contractor, for the 10-year defect period has reestablished the options and rekindled the excitement to build condos, he says.

The new Downtown ballpark is another piece of the puzzle, helping round out Downtown’s reputation as an after-hours destination.

Roel will complete the 221-unit Renaissance project later this year and is about to start on the Bella Via project, a 41-unit project in the Little Italy area. In addition, Douglas Wilson Companies’ Parkloft condominium project will offer urban sophistication with 120 units in phase one.

Canadian builders led by Bosa Development, with five projects in the works, are also important components in the push, along with Interwest, with both mid- and high-rise projects underway, and Intergulf, with the Treo development almost complete.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.