Edition: June 2007



 Real Property

 By Alan N. Nevin
PropertyMaps: MLS Real Estate Search


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Uptown’s Best Days Are Ahead
New development is transforming the
community into a true urban village

Every few years in this august publication, we revisit the Hillcrest/Bankers Hill/Mission Hills urban enclave to see how the gentrification has progressed. Certainly it has matured as a place to party and gorge and even occasionally to eat something nutritious. The gentrification on the residential side, however, has been somewhat slower.

Residential growth has moved along progressively but relates to the paucity of land available for development. In almost every case of something new being built, something old has been razed. And, of course, that inevitably causes a problem for the folks who think that all our old buildings are historic. Unfortunately, most of San Diego’s old buildings are more laughable than historic, although some people grab at any straws when the selection is meager. The state of California says that any building over 50 years old can be deemed historic, but enough of that foolishness.

The one major residential project now in the finalization stage is D.R. Horton’s 185-unit Atlas at Fourth Avenue and Brookes Street on the old Red Cross building site. The project is mostly one- and two-bedroom units priced from the $300,000s. I won’t bother making the analogy between drawing blood and paying for an Atlas unit because their prices are rather reasonable. (drhorton.com)

Several other new projects also are nearing completion in Hillcrest. A word on each:

  • Heritage on First. This 25-unit New England-style condominium is at 3821 First Ave., hidden behind a couple of original Craftsman houses. The project offers a combination of one- and two-bedroom models ranging in size from 755 to 1,430 square feet with prices starting in the $400,000s. Boyd Smith, the sales agent, says visitors quickly become interested buyers. (delmarheritage.com/first.html)

  • Trilogy. Developed by Mayfair Homes, this 25-unit project is located at Fifth Avenue and Thorn Street and incorporates elements of the former building, including the 1918 offices of Silent Waverly, an electric car company. The structure housed a generator capable of charging as many as 40 electric vehicles at one time. Units are 1,166 to 1,420 square feet in size. Prices have not been set yet, but will be shortly as the building nears completion. (mayfairhomesinc.com/trilogy)

  • Mission Florence. This 18-unit, four-story offering at Washington and Front is still in the steel framing stage. When complete, it will contain retail space on the first floor with condominiums above. Prices have not been set.

  • Mi Arbolito. Certainly the tallest project on our list is Martinez + Cutri’s new landmark tower at Sixth Avenue and Upas Street. The project, now topped out, consists of 14 2,300-square-foot flats, one per floor. That’s class. Priced from $1.1 million, the views are spectacular: a permanent unimpedable view of Balboa Park. (miarbolito.com)

  • The Lodge at Bankers Hill. Recently completed, this development at First Avenue and Juniper Street is cattycorner from the ever-popular Hob Nob Hill Restaurant. More than 60 percent of the units have closed escrow. Most are townhomes, including a half dozen free-standing units facing Front Street. Most units are priced from $450,000 to $550,000. Colrich and ConAm are the developers. (thelodgeatbankershill.com)

  • Biarritz. The 11-story, 37-unit project on Sixth Avenue at Redwood Street is being built by Mayfair Homes. To be completed in about 18 months, the architecturally stunning design offers clear Balboa Park views from virtually all units. Homes range in size from 1,300 to 4,200 square feet with most in the 1,600 to 2,200 square foot range.

  • Deca. Located at the east end of Hillcrest on Park Boulevard at Robinson, the 37-unit project built by La Jolla Pacific Development is nearing completion. It is a fitting bookend for the stretch from Robinson to University that includes Cairo and The Egyptian. Deca is now one-third sold out. Condos are mostly in the $600,000 to $700,000 range. (urbanproperties.com/deca.html)

Peering into the crystal ball of development, we can see a number of exciting new projects that may go ahead soon if the developers test the waters and find them attractive. The largest is R.S. Lawrence’s 100-plus mixed-use development on the block across from ConAm’s Mission Hills Commons. The project’s retail frontage is now under renovation. The residential will be behind. Looks very good so far.

Also in the proposal stages is a project at Second and Laurel on the old Beth Israel property. It has, however, been through numerous iterations and we’re not sure which one will move forward. The half block is scraped and ready to go.

Another dozen projects are kicking around that may someday see the light of day, but not yet. The largest involve the St. Paul’s properties that have had several suitors, but no marriages yet. And we hope that the project at 301 University goes ahead, too. It is a wonderful proposal that got sidelined by political skullduggery.

Hillcrest, Bankers Hill and Mission Hills present much to like. Gradually, they will grow up and become urban villages of the highest order. Density is very important for the urban feel and Hillcrest isn’t there yet. What would really help is the trolley running up Fifth Avenue and connecting Downtown with Fashion Valley. What a wonderment that would be. Well, I can dream, can’t I?

Alan N. Nevin is director of economic research with MarketPointe Realty Advisors (market-pointe.com), a consultancy providing real estate and demographic statistics, feasibility studies and litigation support to the California land use industry and legal professions. Nevin can be reached by e-mail at anevin@sandiegometro.com.


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