High-rise apartment towers are springing up like mushrooms in Downtown San Diego, a red-hot market driven by the residential needs of a fast-growing life sciences sector that also is devouring lab space in the city.
The nine residential towers under construction in San Diego soon will be joined by a tenth: Cresleigh Homes is planning to build a 37-story apartment tower next to Petco Park, the San Diego Padres' baseball stadium.
The San Francisco-based developer wants to build a 443-unit tower on a site on Island Avenue currently occupied by a Ballpark Self Storage facility. The tower, which early cost estimates pegged at $233M, will have two levels of underground parking.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
