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-   -   SAN DIEGO | Boom Rundown, Vol. 2 (https://skyscraperpage.com/forum//showthread.php?t=126473)

Nv_2897 Aug 18, 2020 3:35 PM

Quote:

Originally Posted by JerellO (Post 9014020)
Ooooo me likey :D when does it break ground?

No much has been said yet the only thing that was said was supposedly soon :) the first phase consists of a 6 story low rise building and the biggest tower which is 38 stories and then the second phase consists of the shorter 36 story tower

Nv_2897 Aug 18, 2020 3:41 PM

Quote:

Originally Posted by Will O' Wisp (Post 9013454)
Any word on if that awesome rooftop deck will be publicly accessible??

No word yet but that would be so cool if it was publicly accessible those views must be incredible

SDfan Aug 18, 2020 5:32 PM

I don't know. That developer (Liberty) has no track record of built high-rise projects.

https://www.libertync.com/about

They seem to have only worked and completed low rise apartment complexes in Florida.

CrookedRecords Aug 19, 2020 9:11 PM

People are reaching out to me right now about 800 Broadway. Sounds like it's going to begin pretty quickly. Not many others in the industry have been contacted yet. I'm thinking info may trickle out over the next few weeks. Has anyone here heard anything about this project recently? Googling the address turn up some basic job info and the renderings...

dirt patch Aug 20, 2020 4:44 PM

Downtown San Diego's office market is a complete disaster: people are mainly flocking to north county for business activity: https://www.costar.com/article/26541...virus-pandemic

eburress Aug 20, 2020 5:08 PM

Quote:

Originally Posted by dirt patch (Post 9016658)
Downtown San Diego's office market is a complete disaster: people are mainly flocking to north county for business activity: https://www.costar.com/article/26541...virus-pandemic

This appears to be a nationwide trend. Commercial real estate is hosed.

SDfan Aug 25, 2020 7:01 AM

Got a nugget of news on 7th & Market:

Quote:

Change Remains a Constant in East Village

Cisterra plans to follow that with two sizable projects. It plans to break ground on its Cisterra 9G project — named for the two streets that intersect nearby — during the first quarter of 2021. It is looking to the spring of 2023 to finish the building, slated to have a two-floor Target store and 241 apartments for a total of 255,000 square feet. Carrier Johnson + Culture is the architect.

Carrier Johnson also designed a larger project for Cisterra. At 763,000 square feet, the 7th & Market high-rise complex will feature a Ritz Carlton hotel plus 59 residences associated with the hotel, as well as a specialty grocer, apartments and office space. Construction is expected to start by next summer with an opening is anticipated in 2024.

“I’m excited to get them going,” Wood said. “I look forward to having them under construction and delivered.”

https://sdbj.com/news/2020/aug/24/ch...-east-village/

mello Aug 25, 2020 7:54 PM

Hmm well a lot can happen in economy between now and then
 
Let's hope they try to break ground a bit sooner then next summer. Who knows what "second wave" or will they call it "third" of CV hits in November/Dec and the whole confusion of what is flu what is Covid etc. will do to the economy. More shutdowns :shrug:

Is it just me or does 9G look like a carbon copy of the Courthouse highrise UC on Broadway just 22 floors instead of 36 or whatever that one is?

superfishy Aug 26, 2020 10:20 PM

Development for the parking lots near Petco Park: https://eastvillagequarterinput.org/...erties_EVQ.pdf

The tallest of the 5 highrises looks like it could be a 500 footer.

superfishy Aug 28, 2020 1:47 AM

https://i.imgur.com/7MlnLLY.png

https://i.imgur.com/7rxxbYt.png

Will O' Wisp Aug 28, 2020 2:11 AM

Quote:

Originally Posted by superfishy (Post 9023324)
Development for the parking lots near Petco Park: https://eastvillagequarterinput.org/...erties_EVQ.pdf

The tallest of the 5 highrises looks like it could be a 500 footer.

https://media1.tenor.com/images/6e6b...temid=14811945

Streamliner Aug 28, 2020 5:41 PM

Pleasantly surprised by this development. Looks good! Hopefully it doesn't get watered down

dirt patch Aug 28, 2020 5:47 PM

Quote:

Originally Posted by superfishy (Post 9024853)

Hopefully it breaks ground this year or next year by summer.

mello Aug 28, 2020 8:08 PM

The city council needs to just rubber stamp approve this thing and try to get a ground breaking ASAP because if they wait and the Coyote begins to drop (metaphor of cartoon where he runs of the cliff and is suspended in mid air before falling in to the abyss) on this economy it will not get financed.

Even the Fed and Goldman Sachs are saying the white collar blood letting of jobs is right around the corner so lets keep our fingers crossed that this puppy can get started. What chances do you guys give it :shrug:

* I wonder if cities are just saying to themselves hey lets try to get as much construction started right now so we can have some economic activity going on because if they dilly dally like normal in "good times" they will miss out on the construction jobs etc.

Will O' Wisp Aug 29, 2020 7:23 PM

Quote:

Originally Posted by mello (Post 9025677)
The city council needs to just rubber stamp approve this thing and try to get a ground breaking ASAP because if they wait and the Coyote begins to drop (metaphor of cartoon where he runs of the cliff and is suspended in mid air before falling in to the abyss) on this economy it will not get financed.

Even the Fed and Goldman Sachs are saying the white collar blood letting of jobs is right around the corner so lets keep our fingers crossed that this puppy can get started. What chances do you guys give it :shrug:

* I wonder if cities are just saying to themselves hey lets try to get as much construction started right now so we can have some economic activity going on because if they dilly dally like normal in "good times" they will miss out on the construction jobs etc.

Not necessarily. We are in just the weirdest damn economy right now.

rn we've got a higher unemployment rate than anytime since the great depression and a looming eviction crisis, so obviously thing are not great. To combat this the federal reserve has been printing money at an exorbitant rate, just giving anyone with a checkbook and a smile all the cash they want, partially to dull the effects of the crisis on the general public and partially because the WH wants to see the stock market recover.

On that latter front this response has been extremely effective, the stock market has recovered and even grown since March. But it's a bit a facade, the stock market has recovered its previous numerical value because by printing all this money dollars are worth less aka inflation. So right now if you own a bunch of dollars, you'll want to turn them into something else because they're losing value. You could exchange them for another currency, but nearly every other government is doing the same thing so that's not as good an option. Or, you can convert them into a fixed asset aka real estate.

Ideally you'd like to buy something that's already there, but property owners know all of the above so they're no looking to sell. So another option is to build in a safe market. Because there's so much money floating around borrowing is cheap, and labor is cheap because everyone is looking for a job. San Diego is a biotech hub, and biotech is one of the few growing markets (for reasons I think should be fairly clear). The stars have aligned to make seemingly crazy projects feasible.

Oh and if you're wondering what the downside to all this is, you know besides all the death and homelessness and violent social unrest, inflation hurts anyone who can't readily convert their dollars into something else. Usually retirees are hit hardest. Also wage growth tends to lag behind inflation, so you'll be getting the same paycheck every week but it won't buy as much. For people living on minimum wage, which rarely changes, thing are going to get even worse than they are now.

mello Aug 29, 2020 7:46 PM

Great Analysis Will
 
One question though. Is there enough demand for biotech office space in DTSD to make the project on the Manchester land pencil (the new proposal from biotech giant guy forgot name), fill up Horton Plaza for Stockdale Capital, and this proposal on Petco Lot? That is a TON of new office space needing to be filled :shrug:

Like someone else noted a few posts ago there is already a lot of space from Del Mar Heights thru UTC/Sorrento Mesa being built or repurposed for biotech.

Will O' Wisp Aug 29, 2020 8:15 PM

Quote:

Originally Posted by mello (Post 9026491)
One question though. Is there enough demand for biotech office space in DTSD to make the project on the Manchester land pencil (the new proposal from biotech giant guy forgot name), fill up Horton Plaza for Stockdale Capital, and this proposal on Petco Lot? That is a TON of new office space needing to be filled :shrug:

Like someone else noted a few posts ago there is already a lot of space from Del Mar Heights thru UTC/Sorrento Mesa being built or repurposed for biotech.

Yeah, with so much free money floating around projects are being proposed/built with weaker and weaker economic justifications. The markets are spooked and acting irrationally, everyone is dumping money in what "feels" safe without really thinking if they're overbuilding. It's unlikely San Diego will need this much biotech office space in the near future, but it seems more likely than most other things to invest in.

But at a certain point actually having people inhabit the office space can be secondary to just preserving value. With borrowing so cheap, you can afford to leave these buildings partially filled for years. As long as you think that eventually, someone will lease the space it can be a reasonable investment.

Also MPG and the Petco Lot are strategic investments. A big investor like Manchester or Brookfield will put their hat in the ring now just to preserve the opportunity to build when the economy is better. There costs associated with that, including the cost of cancelling the whole thing if the economy doesn't recover at the rate you're expecting it to, but the potential benefits often outweigh them.

IconRPCV Aug 29, 2020 9:05 PM

Would have been so good!

IconRPCV Aug 29, 2020 9:09 PM

Quote:

Originally Posted by HurricaneHugo (Post 9000458)
Imagine if we had built this subway system in 1975...

https://i.redd.it/9anggmsbile51.png

This would have been a game changer. They should have just gone with this with design with the trolley. I always don't understand why there is not a line serving the uptown neighborhoods and Balboa Park. This is the line people would actually use; it is like they don't want mass transit to work, but they are just going through the motions.

SDfan Aug 30, 2020 3:41 AM

Quote:

Originally Posted by superfishy (Post 9024853)

Keep in mind this is one of two proposals. The second is by the Padres and is supported by the downtown partnership, chamber and others. It's much more underwhelming...


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