Welcome to San Diego Blog | May 31, 2012
41 Story San Diego Condo
Bosa Development Company is rethinking its plans for Downtown San Diego Condo development. Or, at the very least, creating options for upcoming projects.
On May 16, 2012, Bosa Development presented a preliminary design review proposal to Center City Devlopment Corporation (CCDC) for construction of a new luxury highrise to be built at the corner of Pacific Highway and Broadway. The long term implications of this proposed residential building effect numerous developments currently on the table.
The site is important to Downtown from both a functional and visual standpoint. The corner of Broadway and Pacific Highway is the primary gateway from the North Embarcadero into Downtown. It is also at the nexus of the Broadway boulevard expansion.
Development of the site will also have a dramatic impact on the downtown skyline and links to numerous other downtown projects including the North Embarcadero Visionary Plan, the County Waterfront Park (being built adjacent to the County Administration Building), as well as Lane Field and the Navy Complex.
Bosa Development Company had previously entitled a parcel at the corner of Ash and Kettner for construction of another highrise condo. This site is adjacent to their recently sold out Bayside condo tower, but one block east of Pacific Highway. The entitlement of this new Bosa 41 story condo is in the “front row” of waterfront condos.
Proposed San Diego Luxury Highrise
This is a very large, impactful project for Downtown San Diego. The lead architects on the project, Kohn Pederson Fox have a worldwide portfolio of landmark buildings. The proposed San Diego tower, as shown above is that kind of iconic 21st century architecture in San Diego.
The mixed use Bosa proposed San Diego Tower will be built on just under one and a half acres. It is proposed to be 450 feet high, and will include 232 condos ranging from 956 sf one bedrooms to three bedroom homes of over 2,000 sf.
In addition, approximately 16,000 sf of retail space on Broadway and Pacific Highway is to be added on the first and second floors. Other projects on the waterfront, specifically Lane Field and The Navy Broadway Complex, have also promised a retail component but none have yet delivered.
Timing is uncertain
It has been a decade since Bosa Development did not have a new highrise to sell. In the current real estate market, costs for new construction far exceed values in the resale market. Until this changes, or at least a near term projection of higher values is made, it’s unlikely that this building will begin.
A future, important discussion of this building will include its impact on views and values of other Columbia District condos.
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