Strike a Pose. Condos are Back in Vogue in San Diego County

After seeing a huge boom in urban condominium development in the early to mid-2000’s, followed by a few years of hibernation, several suburban multi-family condominium projects are finally emerging in the marketplace, and several more are planned for actual development.  The combination of affordability and ideal infill locations is putting condominiums back on the radar screen for possible new home buyers.

Nearly every local builder has a current project in the works, either attached or detached product types.

  • Carlsbad is a hotspot for new home projects.  Shea Homes, Taylor Morrison, CityVentures and Brookfield Homes all have new communities breaking ground in the coming months, and D.R. Horton (53 Melrose), KB Home (Avellino) and Brookfield (Sago at the Foothills) are building out existing projects in this city.
  • San Marcos is also seeing an uptick of activity.  Colrich is starting to market their new project (Solaire) in the Old Creek master plan, and Lennar is building out Belmont at the top of San Elijo Hills.
  • Farther south, Davidson Communities is breaking ground on their new detached condominium site, (Arista) at The Crosby.
  • Shea Homes is also making news in Mission Valley with its new communities in the Civita master plan.

The communities of Otay Ranch and Olympic Pointe in Chula Vista will supply the San Diego South Bay with new product in the near term.

Future projects in North County, Mid County and South Bay currently in the planning stages ensure that condominiums will continue to supply lower priced homes throughout the region.

Source: David Landes, Marketing Consultant, (858) 568-7428

Still Alive in San Diego

San Diego Marketing Consultant, David Landes, (858) 568-7428 had this to report on the San Diego County land sub-market today:

  • Improved lots are still in strong demand. 
  • Carlsbad continues to supply most of the new product with projects in the master plans of The Foothills, La Costa Oaks, La Costa Greens and La Costa Ridge.  DR Horton, KHovnanian, Standard Pacific, Pulte, Davidson, Taylor Morrison, William Lyon, Colrich and Cornerstone are all active in this market.
  • New projects in San Elijo Hills are also cropping up.  Lennar is under construction on a new attached project and another large, public builder is currently under contract on some of the remaining lots at the top of the hill.
  • The apartment groups continue to be aggressive.  Several projects are under contract along the 78 Corridor from Vista through San Marcos.
  • Several improved lot offerings are in the works along the 56 Corridor up through Del Sur and Rancho Santa Fe.  Look for transactions by year end.