For the last several years, San Diego has focused on supporting real estate development and investment with pro-business initiatives. The strategy has worked, helping to drive new development in the market. The revitalization of Downtown San Diego has been the prime beneficiary of this legislation.

"It has absolutely accelerated the revitalization of downtown San Diego. Their forward-thinking planning framework targeted investments, incentives and business friendly permitting process has helped make development opportunities more viable and often provided the final piece necessary to get a development off the ground," Bob Hunt, managing director of public institutions at JLL, tells GlobeSt.com. "There activates have facilitated catalytic developments that have transformed underserved neighborhoods into vibrant components of the city's fabric."

Hunt says that PetCo Park, which is home of the San Diego Padres baseball team, is the best example. The property would not have been built without city support. "This stadium was developed in blighted area of San Diego, and to build the park, the City of San Diego paid $301 million of the $474 million cost for the ballpark," says Hunt. "Because of this investment the park was built."