INFILL DEVELOPMENT SITE W/ BAY VIEWS- The property benefits from easy freeway access, central location to major employment centers, proximity to San Diego’s finest beaches and world-class amenities.
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. University Towne Center (UTC / Sorrento Valley), home to San Diego’s medical and biotech industries, is immediately to the north. Mission Valley, which is comprised of over 7M square feet of office space is immediately east. Carlsbad and the `Innovate’ 78 are further north.
ADJACENT TO TECOLOTE TROLLEY STATION – Tecolote Village is located within walking distance to the future Morena station. This trolley station will serve as an extension to the Blue Line, which will have direct connections to UTC, UC San Diego, Downtown and Mexico.
EXCEPTIONAL DEMOGRAPHICS – Approximately 143,000 residents live within a 3-mile radius with an average household income exceeding $114,000 in a one-mile radius. Additionally, over 50% 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.
EXTREMELY LOW VACANCY RATE- With approximately 70,000 housing units within a 3-mile radius, the immediate trade area boasts a 2.2% vacancy rate in a 1-mile radius and 2.7% in a 3-mile radius.
PROXIMITY TO UNIVERSITY OF SAN DIEGO - With over 9,000 enrolled students and 2,600 faculty & Staff, the intimate proximity to USD provides an additional economic boost and stability unfound in other submarkets. In addition, the subject site is located 8 miles from both UCSD and SDSU, which has a combined enrollment exceeding 85,000 students.
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.
