Downtown San Diego continues to be a hot real estate market. With more than 35,000 residents and an additional 75,000 employed in the area, this number is expected to increase in the coming years. In fact, the California Department of Finance predicts San Diego County’s overall population will rise to a little over 4 million people by 2060. Downtown commercial and residential development will continue to impress with up to 165,000 jobs and close to 90,000 residents in the next fifteen years.
The city center of San Diego is a bustling and thriving community, and home to amazing parks, plazas, one of a kind restaurants and bars, unique shopping, arts and culture as well as a well run public transportation system. Residential properties include a variety of opportunities – luxury high rise penthouses, lofts, modern condominiums, eclectic town homes and rental apartments. All of this, not to mention San Diego’s sought after climate, adds up to an urban lifestyle unlike any other city in the nation.
According to Raye Scott, Principal/Partner, Pacific Sotheby’s Realty’s Downtown San Diego Office, “There are a variety of people attracted to the downtown or urban lifestyle. For Baby Boomers, condo living affords a more carefree lifestyle and freedom to enjoy friends and family with less time spent on home and garden maintenance. The easy access to several means of transportation is also very compelling. The Millennials are migrating to neighborhoods with great walkability and vibrant environments to work and play. The rest of the downtown population is comprised of 2nd or 3rd home owners with the intent of making downtown a future permanent home, but enjoying it now every chance they get.”
Downtown is comprised of the following communities, all offering a unique perspective of America’s Finest City.
- Columbia District – The Museum of Modern Art, Cruise Ship terminals, the Embarcadero, Sante Fe Train Depot are all located here as well as businesses and waterfront condos. Lots of development activity is on the agenda, including changes at Navy Pier, more parking and public space and the Lane Field, a $375 million dollar redevelopment which will continue to make the area a welcome and thriving destination.
- Core – A thriving business community, City Hall, financial institutions, and The Civic Center are located here among historical buildings with quaint retail, commercial and residential opportunities.
- Cortez Hill – Located in the northeast section of downtown, this is one of San Diego’s oldest residential neighborhoods and named after the historic and iconic Cortez Hill Hotel, which now houses condominiums. This is an ideal neighborhood that offers a mixture of home styles, including Victorian houses, high rise condominiums and contemporary lofts, mixed in with small businesses and cafes.
- East Village – Downtown’s largest and fastest growing residential community, here you will find Petco Park, home of the San Diego Padres. An active neighborhood, with block parties, Mardi Gras parade, community gardens and more, homebuyers are attracted to the various artists lofts, galleries, restaurants and unique shopping that gives off a very trendy vibe that caters to an urban lifestyle.
- Gaslamp District – Well known for its countless restaurants, bars, nightclubs, music venues and theatres, this area has come a long way in the past 30 years or so when it was recognized as an unsightly and unsafe area of San Diego. Today, it’s a bustling neighborhood filled with historic buildings, retail space, hotels, Horton Plaza and residential properties. Always busy, and especially popular with tourists, this energy filled district is unlike anything else in San Diego.
- Little Italy – In recent years, this community has transformed into one of the most trendy neighborhoods in the city. With a traditional neighborhood type feel, this is where you will find wonderful restaurants, cafes, galleries, and other small businesses. Housing choices are various and boast condos, lofts and rental apartments, all unique and offering a wide array of styles and sizes.
- Marina – One of the most desirable areas of downtown San Diego, the Marina District includes a variety of housing options from luxury water view condos to smaller loft units. Ideal for professionals to retirees, who want to be close to everything the Marina is within walking distance to popular spots such as Horton Plaza, the Gaslamp District and San Diego Bay. Expansion efforts are ongoing and will continue to make this an appealing place to purchase a home, or investment property.
Pacific Sotheby’s International Realty offers a wide variety of housing opportunities and top professional agents who are experts in downtown San Diego and beyond, No matter your budget or preference, for those seeking to live the ultimate urban experience, contact our offices today to find your next home.
To find out more about downtown real estate contact our Downtown San Diego office at 619.481.6300 or visit us at 560 First Avenue, San Diego, California 92101 or our Little Italy Office at 619.255.2020 or visit us at 868 West Ash Street, San Diego, California 92101.