Five teams are competing for the design and development of 48 acres in the Midway District for a new sports arena. All the proposals include towers and affordable housing, projecting to build 4000 units, including 1200 affordable units. The projects seek to revitalize the otherwise “neglected” Midway District.
Development Updates in Inland Empire
The median price for a single family home in San Diego is now at $1,000,000. This represents a 20% increase from last year. For attached properties, like condos, the price increased to $660,000, a 25% increase from last year.
JLL refinances their 442-unit Vive Luxe project for $203 million. The recently completed project is located in Kearny Mesa, a neighborhood in San Diego
Rockefeller Group purchased 11.6 acres in Chula Vista, California to be developed for industrial uses. The project dubbed “Heritage Industrial Park” will be the second industrial property Rockefeller group has developed in the area.
The 4250 Oregon project by Titan Development, Malick Infill Development, and Thornburg Real Estate Ventures has broken ground and is expected to be completed by 2023. The project will be 94 units.