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Does Your Downtown San Diego Condo Value Rise When The Padres Win?

Downtown_San_Diego_CondoHere in Downtown San Diego, we’re truly blessed to live so close to a Major League Baseball stadium (Petco Park). Whether or not you’re a big baseball fan, you cannot deny that the stadium has contributed to the development of the East Village real estate landscape. Since Petco Park completed construction in 2003, we’ve seen 9 new Downtown San Diego condo complexes rise up in the East Village, including The Legend, Icon, and Park Terrace.

In a 2013 study by Jed Kolko, chief economist at Trulia, Jed examined the correlation of property values and MLB stadiums. San Diego has the 5th highest price per square footage of all 30 MLB cities, and registers a 1.9 ratio of “stadium area median” compared to the “metro price” as a whole. The “stadium area median” includes all properties within a 0-2 mile radius to the stadium, which in our case, includes just about all of the 92101 zip code.

Later in the study, Jed compares property values of cities with “winning” baseball teams (using pre-season odds from a betting site) to their not as “winning” counterparts. While some of the most expensive PP/sqft were associated with the best teams, the correlation was not air tight, as evidenced by the Padres being in the top 5. I think you’ll have to chalk up our expensive pricing to our perfect weather and amazing city, and not so much our lovable Friars.

So check out the article for yourself, it makes for some interesting reading. For more information about our local Downtown San Diego condos, especially the condos around the ballpark, feel free to contact us. We look forward to helping you find your next home.




New Downtown San Diego Rental Listing | 1050 Island Ave #609

Downtown_San_diego_rentalM2i is quickly becoming a Downtown San Diego favorite among young professionals and second homeowners alike. Built by Citymark Development in 2005, M2i features studio, 1 bedroom, and 2 bedroom layouts with very industrial looks and feels. The complex is a concrete frame and many of the units have left the exposed concrete accents in the units. Exposed pipes and HVAC complete the “loft-like” look inside most M2i units.

1050 Island Ave #609 is our newest Downtown San Diego rental and is 718 sq with a south facing exposure. Looking back out over Island Ave, this unit will always receive a bunch of natural sunlight year round. This rental is an open layout floor-plan with a pony wall to frame out the bedroom area. The hardwood flooring looks great and the southern wall is a huge wall of windows which gives you an urban backdrop. This unit’s modern kitchen includes stainless steel appliances and finished cabinets. In-unit washer and dryer and 1 assigned parking space are also included.

M2i, stands for Market-to-Island for the streets that line the north and south side, is centrally located in the East Village, just steps away from Petco Park, The Gaslamp, and Seaport Village. M2i also features in-complex amenities such as: a community rooftop BBQ terrace, spacious fitness center, gated/underground parking garage, on-site HOA manager, and controlled FOB access to the common areas.

For more information about 1050 Island Ave #609, or any Downtown San Diego rental unit, feel free to contact us anytime.




Bottega Americano | A New East Village Eatery/Market

BADoorThe East Village neighborhood of Downtown is excited about the opening of a new spot in the area at Park & Island, on the lower level of the new Thomas Jefferson Law School building.Bottega Americano is a new restaurant, bar, and marketplace that “combines the elegance of fine dining with the convenience and excitement of a European style marketplace, where you can browse the stations, enjoying the sights, sounds and aromas of food being prepared.” It’s a California twist on the classic Italian taste and style.

Dine at one of the culinary bars, in the dining room, or on the patio. Or browse the epicurean marketplace for gourmet ingredients to take home. The menu includes a pasta bar, seafood bar, wood fired pizza, Italian meats and cheeses, desserts, and more.

The marketplace opens at 7AM daily, with the

dining room available at 11AM thru the day for both lunch and dinner, along with a cocktail and late night menu starting at 10PM on weekdays and 1030PM on weekends till closing time
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New Downtown San Diego Rental Listing | 206 Park Blvd #313

Downtown_san_diego_rentalOur newest Downtown San Diego rental listing at Park Terrace is urban living at its finest. This 1 Bedroom/1 bathroom condo rental is 694 square feet and has an interior courtyard orientation, which gives a tenant the urban setting without the street noise. Off of the living area is a spacious balcony overlooking the Park Terrace courtyard area and providing views of Petco Park and the new Library. The modern kitchen is equipped with stainless steel appliances, granite counter tops, and a large island, which adds tons of counter space. This Downtown San Diego rental unit comes with the conveniences that you would expect in a modern day highrise, such as: in-unit washer and dryer, assigned/underground parking space, and secure FOB access entries.

Park Terrace was developed in 2005 by Intercorp Developments, the same builders as nearby Diamond Terrace and Trellis. Aside from it’s ideal Downtown location, Park Terrace also provides great amenities to its residents. Park Terrace amenities include: full fitness center, common BBQ terrace, community/rec room with billiards and ping pong tables, on-site HOA manager, gated/underground parking garage, and night/weekend security.

For more information on this Downtown San Diego rental unit at Park Terrace, follow this link




Downtown San Diego Condo Update

The summer is almost over, and thought this would be a good time to post a blog on the state of the Downtown San Diego Condo market.   Things in Downtown San Diego Real estate continue to be stable and positive.  In fact, aside from the interest rates going down to promote more activity, the report is much the same from our early summer update post in July.  As we approach the last week in August, 58 Downtown condos have gone into Pending status.  This is a healthy sign that activity is still good, and a slight increase from earlier this summer.  Currently there are 272 Active Downtown Condos.  Here is how the current Inventory of Downtown San Diego condos is broken down:

21 Downtown Condos and Lofts Under $300k

91 Downtown Condos and Lofts Between $300k and $500k

118 Downtown Condos and Lofts Between $500k and $1MM

44 Downtown Condos and Lofts Over the $1MM Price Point

Interest rates dropped again this week.  Even though the national economy and the national housing market show signs of stability, there is interest in promoting more growth.  Favorable financing terms and longer market times provide buyers with a good window to consider the purchase of a Downtown San Diego Condo.   Any investor or buyer who has an interest in buying should consider this a good time before interest rates go back up and inventory falls seasonally following the buying season.

3.95% for a 30 Year Fixed

3% for a 15 Year Fixed

3.625% for a FHA Loan

3.875% for a Jumbo 30 Year Fixed




New Quartyard Construction will Imporve the Value of Downtown Condos For Sale

Downtown Condos for Sale have a better value with a great Downtown Lifestyle

The value of Downtown Condos for sale always depends on the value of the Downtown Lifestyle that comes along with them.  New projects that will improve the already incredible lifestyle are very interesting to us here at 92101 Urban Living.

As of last week, the empty corner of Park & Market in the East Village area of Downtown, was fenced off, hopefully meaning they should be breaking ground soon to bring the community… Quartyard.

“Quartyard is excited to host a coffee shop, an outdoor eatery, onsite management, art galleries, farmers/craft markets, an outdoor beer garden, and rotating daily food trucks. Open 7 days a week the plaza space will offer art & fashion shows, film festivals, educational events, craft & farmers markets, and host public and private events.”

Not sure if a rumor or not but I have heard some of the space may include a dog park which I’m sure would make a lot of the area’s pet owners happy. We need one in East Village.

This is a RAD LAB Team project, evolved from the thesis studies of graduate students at the New School of Architecture and Design, to demonstrate how “re-purposing” vacant land can quickly turn an empty lot into a thriving Urban Park. They adopted the challenge to temporarily occupy the city owned space with retail, restaurants, art galleries, garden, and community-based uses that provide an urban park with a sense of place.  Hope to see completion of this project by winter of 2014.  For more information on this project and other RAD LAB projects, Click here.   Also…to receive updates on construction and new projects like them on Facebook.

92101 Urban Living Specializes in all Downtown San Diego Condos for Sale.  Click here to see all available condos currently on the market in Downtown.




San Diego Restaurant Week Returns Sept. 21-26

SDRWSan Diego Restaurant Week is quickly becoming a local tradition. For one week, usually twice a year, restaurants all over San Diego get together and offer $20/$30/$40 menus of their specialty dishes. This gives patrons a chance to try new places, or visit favorites, that they otherwise might have not been able to.

Restaurant Week also helps local San Diego charities. in 2013, San Diego Restaurant Week was able to raise over $5,000 for the American Red Cross of San Diego, San Diego Food Bank, and others. For more information on San Diego Restaurant Week, or to view the participating restaurants, visit their website here.




New East Village Loft at M2i

East Village Loft in M2i

One of my favorite things to do is introduce a new featured listing.  This new 92101 Urban Living listing happens to be a “one of a kind” Downtown Loft located in the popular East Village complex of M2i.  Originally sold as a two bedroom/two bath open shell, this East Village Loft has been configured as a large one bedroom.   The top floor of M2i has 15 foot exposed cement ceilings and skylights.  The high ceilings and natural light provide an open and bright feeling.   West facing over the interior courtyard, the “oversized” windows with custom window coverings are elegant and provide the modern/contemporary quality expected of any East Village loft space. The flooring has been updated throughout the unit with wood in the living areas, a natural colored carpet in the master, and stone/tile elements in the bathrooms.  The kitchen is wide open to the living areas and provide the extra counter space and storage to ensure true efficiency in preparation and presentation while entertaining.   This particular loft at M2i is sold with 2 parking spaces and a large storage room.

The M2i Complex is located in the Ballpark District of the East Village neighborhood.  Know for it’s open floor plans and contemporary design, M2i is a moderate loft complex in terms of HOA monthlies, but still supports rooftop deck and gym amenities.  Built by Citymark in late 2005, M2i is a quality loft complex with diverse choices in terms of floor plans and price points.




Downtown San Diego Stadium Update

Downtown San Diego StadiumIf you have been keeping an eye on our blog, or the Downtown San Diego news in general, you’ve seen that we’re kind of obsessed with the possibility of a new stadium being built next to Petco Park in the East Village. The ideas have some in all shapes and sizes.

Recently, the San Diego Union Tribune published an article with a few proposals put forth by JMI Realty, Inc. JMI Realty is locally known for developing Downtown San Diego landmarks like Petco Park, Omni Hotel, and Hotel Salomar. Of the 4 JMI proposals, 2 of them included a new Chargers Stadium, both located on the current “Tailgate Park” area, east of Petco Park.

To read the entire article, click here.




New Downtown San Diego Condo for Rent | 325 7th Ave #1606 | The Legend

Downtown_san_diego_condo_for_rent

The night view from the balcony of 325 7th Ave #1606

Sometimes, it can be tough to write blogs each week and remain unbiased about our topic. This article is no exception. When we market listings at The Legend in Downtown San Diego, I get excited, because I know that The Legend is one of those buildings that “sells itself.” The Legend is one of Downtown San Diego’s premier condo buildings, and the only condominium complex in the nation to be built within the confines of a professional baseball stadium.

Today, we’re writing about a fantastic Downtown San Diego condo for rent on the 16th floor. Legend #1606 is a condo rental with a true West facing orientation, which provides stunning views of the San Diego Bay, Coronado Bridge, City Skyline, and Petco Park. The hardwood floors throughout the living area look fantastic. This particular unit features an upgraded kitchen, equipped with stainless steel appliances, granite counter tops, and a gas range oven. The split bedroom layout is great for a roommate situation, or a home office. A large balcony off of the living area adds extra square footage for entertaining or relaxing. Sometimes overlooked conveniences such as the, in-unit washer/dryer and assigned parking space, are included.

Built in 2007, by BOSA Developments, The Legend is what we consider a true “luxury” building. The Legend features a rooftop terrace that truly has to be seen to be appreciated. The 2000+ sq ft rooftop deck includes 2 firepits, full kitchen, flat screen tv, BBQ, and a direct view into Petco Park. We like to call it “built in season tickets.” As if this wasn’t enough, The Legend also provides its tenants a full fitness center, heated pool, spa/hot tub, sauna, steam room, 24 doorman, security, secured access building, and gated/underground parking garage.

For more information about this Downtown San Diego Condo for Rent at The Legend, feel free to contact us. We look forward to helping you find your next home.


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