August 08, 2019 | Joshua Ohl | CoStar
Market Stat: Holland Partner Group Breaks Ground on Mission Valley Apartments
In the first half of 2019, San Diego posted the fewest construction starts in a two-quarter stretch since 2011. But one groundbreaking in Mission Valley this summer almost doubled the first half total all on its own.
Holland Partner Group have broken ground on the 840-unit Town and Country residential towers. The $500 million project was carved out of 10 acres that had been part of the Town and Country resort.
Holland is also building the $275 million, 426-unit Park + Market in the East Village in Downtown San Diego which has an expected delivery date of 2020.
Development on Town and Country is anticipated to wrap up in 2023 and deliver over several phases, beginning in 2021. It is expected to consist of a mix of one-, two-, and three-bedroom units with more than half being two-bedrooms, with an amenity package similar to most new construction across the county.
Mission Valley is one of San Diego’s most active areas for apartment development. Its inventory has expanded by 13% since the recession, adding 5,000 units.
With Town and Country now underway, the under-construction pipeline accounts for 5% of total inventory in Mission Valley. That’s the highest percentage since 2014.
Once construction wraps up, Town and Country will be one of San Diego’s largest transit-oriented development, surpassing the recently completed sister communities, Hanover Mission Gorge and Hanover Mission Valley, in the Grantville neighborhood. It will be less than a quarter-mile to the transit stop at the Fashion Valley Mall.
While the TOD site could take advantage of San Diego’s loosened parking requirements, nearly 1,300 spaces have been permitted for the apartment development, a nearly 1.5 space-to-unit ratio.
Mission Valley has had little trouble absorbing the new units being built there. Leasing velocity in new construction typically tops 20 units per month. That’s the second-strongest lease up rate behind the East Village, which is closer to 25 units per month on average.
Once complete, it will be the third-largest apartment addition to San Diego since 2010. Only Casa Mira View in Mira Mesa and La Jolla Crossroads are bigger.
All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner of will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.
Keywords: San Diego Commercial Real Estate For Sale, Commercial Property In San Diego, Commercial Real Estate In San Diego, San Diego Investment Real Estate, Commercial Property Management In San Diego, San Diego Commercial Property Management, Commercial Property Management San Diego, Managed Commercial Property San Diego, Commercial Property For Sale San Diego, San Diego Commercial Real Estate Leasing, Top Real Estate Agents in San Diego, Commercial Property in San Diego, Property Management Company San Diego, Real Estate Agent in San Diego, San Diego Commercial Real Estate Real Estate Agent Contact Us Brokerage, Property Management