There is no doubt that Downtown San Diego real estate is in a class of its own when compared to other urban areas across the country. Beautiful views of the Pacific Ocean, the Downtown Skyline and a central location to San Diego’s most exciting night life makes Downtown San Diego’s Columbia neighborhood an ideal location for young professionals and young couples alike.
Located along the waterfront between the Marina and Little Italy, Columbia has been dubbed “Millionaires Row” by many locals because of the expensive real estate and amazing views. Recent high-rise condo developments have transformed the Columbia neighborhood from vacant land and corporate offices into some of the most sought after residential real estate in Southern California. Easy access to the Sante Fe train station and the Downtown airport makes Columbia the ideal place for commuters to Orange County and Los Angeles as well.
We wrapped up a fantastic Q1 here in Downtown San Diego in regards to Real Estate Sales, and the Columbia condos played a helpful role in the market rebound that we started to experience. While small in size (only 6 condo buildings), the Columbia condos are dense with inventory. Downtown San Diego’s tallest residential tower, Electra, led the way in Q1 with 9 closed transactions. The Electra building also just entered into meditation with and may be headed towards a litigation situation, which could hamper sales heading into Q2 and Q3. In fact, three of the six Columbia condo buildings are in litigation disputes (Electra, Grande North, Sapphire) which could impact financing on those units until resolved.
The North Embarcadero Visionary Project is also getting started along the waterfront, with the first phase in full effect. Just below Bayside, on the corner of Ash and Pacific Hwy, is the new Waterfront Park construction project. With an estimated completion date not scheduled until the end of 2013, Columbia condo residents will have to bear the noise burden a little bit longer. The closure of Broadway form Pacific Hwy to Harbor Dr will also affect residents for a few more months.
If you’re interested in taking a look at some of the beautiful real estate that the Columbia neighborhood has to offer, contact us. We’d love to hear from you.