101 W Washington St
San Diego, CA 92103
W Washington St · Land For Sale · 0.18 AC

Price: Contact Broker for Details INFILL TRANSIT-ORIENTED DEVELOPMENT SITE – Located within a Transit Priority area, the property benefits from easy freeway access, central location to major employment centers, proximity to San Diego’s finest beaches and world-class amenities. PREMIER URBAN SAN DIEGO LOCATION – With a walk score of 95 (walker’s paradise), the location offers future residents the walkability of the bustling Retail corridor of Washington Street in vibrant Hillcrest. With effortless connectivity to central San Diego, residents will benefit from being a short walk to an array of local restaurants, grocery, coffee shops, entertainment, shopping and nearby parks. HIGH-DENSITY HOUSING BOOST FOR HILLCREST – In June 2024, the San Diego City Council approved plans to double Hillcrest’s housing density, increasing from one dwelling unit per 400 square feet to one per 200 square feet. This change could bring up to 17,000 new housing units to the neighborhood by 2050. COMPLETE COMMUNITIES HOUSING SOLUTIONS OVERLAY / BY-RIGHT DEVELOPMENT – Tier 2 increases the FAR to 8.0 EPICENTER OF EMPLOYMENT OPPORTUNITIES – The central location offers convenient access to every major employment hub in San Diego County. Downtown, with its firmly established companies and new tech start-ups, is due south. Mission Valley, which is comprised of over 7M square feet of office space is less than three miles to the north. University Towne Center (UTC / Sorrento Valley), home to San Diego’s medical and biotech industries to the northwest. EXCEPTIONAL DEMOGRAPHICS – Approximately 225,908 residents live within a 3-mile radius with an average household income exceeding $129,904. Additionally, approximately 51% of the population in a 3-mile radius is under the age of 35 indicating the desire for young professionals to live in the area. LOW VACANCY RATE – With approximately 17,000 housing units within a 1-mile radius, the immediate trade area boasts a 92% vacancy rate. SUPPLY CONSTRAINED MARKET – San Diego is bound by Camp Pendleton to the North, the US / Mexico border to the South, the Pacific Ocean to the West, and the Laguna Mountains to the East. With a population increase of 35,000 per year, San Diego cannot keep pace with the demand for multifamily units.