More than a hundred new condo and apartment projects consisting of 11,300 units have been completed since 2001 in downtown San Diego. Now, only two are left to go.
Vantage Pointe, a 679-unit high-rise just below Cortez Hill, and Bayside at the Embarcadero, a 232-unit complex in the Columbia District, will be completed in the next few months.
Industry analysts expect that once these two projects are finished, no new residential towers will be built for three to four years.
“The soonest you can expect a new project completion downtown is 2012. But the likelihood of that is slim,” said Russ Valone, president and CEO of San Diego-based MarketPointe Realty Advisors, a consulting firm.
SOURCE: San Diego Business Journal
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