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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.




Downtown Condo Reviews for Broker Caravan July 30th

The summer months in Downtown always produce the most inventory of new listings to hit the market.  Today on Caravan there were over 10 Downtown Condo open for review.  I thought that I would focus on the 5 East Village Condos in buildings I know well.  There were 4 Mark Condos and 1 ICON Condo for me to see.

 

Mark Penthouse 2803

28th floor 3 bedroom + den Mark Penthouse Suite. Views for days from almost every room, of the city, bay, ocean, ballpark by day and city lights galore at night. Over 550sf of outdoor living space on 2 balconies and a roof terrace off the Master. Watch the Padres game from your living room.

Listing courtesy of Michael Lange of Centre City Properties

 

Mark Condo Unit 1109The Mark Condo 1109

From the moment you walk in the Mark Condo, you are drawn to the wrap around floor to ceiling windows emphasizing the view. Very light bright south-west facing condo offers bay, ocean, city, library, and ballpark views. Sit on the patio and take in the San Diego sunsets. Rich dark wood floors, concrete wall accents, split 2 bedroom floor plan.

Listing courtesy of Chad Dannecker of Harcourt’s Pacific Realty

 

Mark Condo 108Mark Townhome 108

The luxury of living of a Mark Town-home and having access to all the amenities of a high-rise. I really like the tall ceilings and lots of windows. Wood flooring. Felt very spacious. 2 stories with a bedroom on each level. 2 large outdoor living spaces. 2 fireplaces, one in Master, and one in Living room. Street level access in the front and courtyard entry in the back.

Listing courtesy of Assaf Avissar of Ascent Real Estate

 

Mark Condo110Mark Townhome 111

This Mark Town Home feels like a Single Family in Downtown. Designed for entertainment. Rich hardwood floors. Custom lighting, surround sound, automation throughout the home controlled by your iPhone or iPad. 1 bedroom on entry level and the Master upstairs. Spiral staircase from the Master to a 3rd level loft of extra space. Large outdoor patios on both 1st and 2nd levels. 2 fireplaces, wet bar, and platform DJ area. Street level access in the front and courtyard entry in the back.

Listing courtesy of Prem Advani of Advani Realty

ICON Condo 604ICON Unit 604

Charming 1 bedroom condo, open floor plan, wood flooring, private patio with some ballpark views. Building offers community roof deck with BBQ’s and stadium seating to watch the Padre game.

Listing courtesy of Chad Dannecker of Harcourt’s Pacific Realty

 

 

 

 

 

 




Beautiful New Little Italy Condo For Sale | 1501 Front St #239

Little Italy condo for saleWe just listed a spruced up condo in Little Italy and we think that you should definitely see it! This 1 bedroom, 1 bathroom condo at Palermo has been completely cleaned up in pre-listing and is showing beautifully.

New paint throughout and new bedroom carpets were some of the touch-ups to get this home ready for the market. The condo is 645 square feet with an additional 100+ square foot patio space, giving it’s potential buyer over 750 square feet of usable indoor/outdoor living space. The patio is located in the quiet area of Palermo’s interior courtyard, which is great for a picky buyer who is trying to avoid unwanted noise. The hardwood flooring throughout the living area looks great. This unit as an upgraded kitchen, featuring stainless steel appliances. The bedroom includes a well-sized walk-in closet. The convenience of having an in-unit washer and dryer cannot be understated, laundromats are no fun. 1 assigned parking space is included with the unit as well.

Palermo #239 boasts some of the lowest HOA’s ($252.81/mo) of any Little Italy Condo for Sale, which is really fantastic considering the bevy of amenities included at Palermo. Palermo amenities include: heated pool, hottub/spa, fitness center, community room, conference room. on-site HOA manager, secured entry, and a gated/underground parking garage. For more information about this featured Little Italy Condo for Sale at Palermo,feel free to contact us anytime. We look forward to helping you find your next home.




New Downtown Fish Market

New Downtown Fish Market

One of the best parts of a Downtown Lifestyle is that you are able to walk everywhere.  Taking advantage of weekend farmers markets in Little Italy and the Marina District mean all locals in Downtown have access to fresh produce and foods.  Starting August 2nd , this access will expand to fresh seafood as well with the introduction of a new Downtown Fish Market.  Every Saturday San “Diegans” will be able to purchase fresh caught fish at the Embarcadero.  It’s the first organized public Downtown fish market locally in decades.The sons of two veteran fishermen have received the official go-ahead to sell freshly caught rock cod, sand dabs, yellow fin tuna and other catches from 8am-1pm every Saturday at the pier just north of Seaport Village on the Downtown waterfront. If this project is successful, the vendors hope that eventually it will lead to a permanent market similar to Pikes market in Seattle and Fisherman’s Warf In San Francisco.

“This has been the first effort in many years to have a fresh seafood dockside market in operation, run by actual fishermen,” Cox said. “If we have a real solid success, maybe we’ll have our own Pike Place Fish Market in San Diego.”

For more information on the new Downtown Fish Market and to read the full article, click on the link to the article posted in the Union Tribune;  Fresh Fish Returning to the Embarcadero

 

 




Downtown San Diego New Building Updates

Recently, some of our Downtown San Diego real estate clients have been asking us about the new building developments that they’re seeing pop up around the city. We decided that a blog post would be in order to help spread some information. I hope that you find this informative.

Downtown San Diego Building UpdatesPinnacle Towers – Out in the East Village, you’ll notice a new high-rise shooting up on Island Ave between 14th & 15th. Pinnacle Towers will be a “twin-tower” set-up and feature 619 rental apartments split between two buildings, 49 of which will be slated for “affordable units.” Construction was approved in late 2012 and the first phase is slated to be finished in late 2015. The project will also include 8,000 square feet of retail space and a 57,000 square foot public park.

 

 

Downtown San Diego new buildingUrbana Rental Lofts - Urbana has been underway for awhile now, on 10th Ave (B/T Island & J St) and the residents of the East Village condo buildings like Fahrenheit, Diamond Terrace, and M2i will be happy to know that construction is nearing completion. The new building will be a rental complex, featuring studio, 1bd, and 2 bd layouts. The heavy construction is already complete, with all 6 stories being built. They are now underway with the finishes and building out the retail space, which will occupy the bottom level.

 

 

Lofts @ 688 thirteenthThe Lofts @ 688 - The Lofts @ 688 Thirteenth St will be the newest offering from the Oliver McMillan Development team. Oliver McMillan, known locally for their other, similarly named, projects (Lofts @707 Tenth, Lofts @ 655 Sixth, etc) will be delivering a 208 unit, rental building in late 2014. The complex will feature studio, 1bd, and 2bd layouts, with retail space occupying the ground level.

 

 

 

Blue Sky San DiegoBlue Sky – Blue Sky, located at the North end of the East Village, hit a bit of a stall after clearing the old smog shop from the property. Now, after changing ownership, the project is slated to get back under-way. Blue Sky will become Downtown San Diego’s biggest rental development, rivaling Vantage Pointe, which will be located across the street. This project will be developed in two phases, with the first 20+ story tower expected to open in 2015, and the second in 2017.

 

 

Celadon San DiegoCeladon – The Celadon project on 9th & Broadway has finally “topped out” and is expecting completion in February 2015. Celadon, from the folks at Bridge Housing, is a 17 story highrise and will offer 250 “affordable housing” units. Check out the link above to see some of the mock ups, The project should be a nice looking addition to the skyline.

 

 

 

Sempra EnergySempra Energy Building - Located on the city block between 7th/8th & J St/Island Ave, you’ll see the elevator shaft of the new Sempra Energy Commercial building. Slated to stand at 15 stories, Sempra may impact some views of the residential buildings surrounding it, such as: The Legend, The Mark, and Park Loft.


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