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SAN DIEGO, CA-Condominium construction is on the rise in San Diego County, as a recent Burnham Real Estate Services report on the region says that 587 units were approved during the third quarter of 2002. This figures marks a significant jump from the same period last year, when just 81 units were approved.

“We attribute the surge in condominium permits more to the new wave of Downtown development rather than a side effect of the recent relaxation in condominium litigation,” says George Carlson, a multifamily specialist with Burnham. “We believe it is too soon for the impact of the latter scenario to be felt in the market.”

Indeed, the flurry of Downtown development has definitely been a factor in the recent rise of condo construction activity in San Diego County. Out of the 1,286 condominium permits issued year-to-date, 931 were for units in the Downtown area. “Downtown, and especially its Little Italy neighborhood, has become San Diego County’s hottest area for residential development in both the for-sale and for-rent categories,” Carlson says.

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