Strata

http://www.ccdc.com/images/propertyI...rata_Final.jpg

Btw, I noticed that the Marriott Renaissance Hotel that so many here have been clamoring about wishing to start... begand digging recently. I suspect they began within the past 2 weeks.

http://www.ccdc.com/images/propertyImages/ACF8C.jpg

Oh that's where Strata is supposed to be? I thought it was a few streets south. Thank you. :)

Intracorp sold it's interest in the project to Hanover Co. From what I understand, the project is going to be very similar in design, however, Hanover is changing the floorplates into mostly 2 and 3 bedrooms. Very agressive rents: $3-$4 per SF. A 1,000 SF 2 bedroom for $3,000 - $4,000 per MONTH. Great news if you own a unit and want to rent it out down the road.

Just got a CCDC mailer mentioning a hearing for changes to Cosmo Square. Same height, same architecture, though most of the tower will now be a hotel, with some Condos...anyone know the timeline?

Since the owners just avoided losing the property to foreclosure and there is very little money available for hotels and even less for highrise condos, I would expect it to happen sometime in 2012.

as long as we get it eventually

2012 seems a bit long.

The Marriott that has begun digging is not the one that fronts 5th where the Arab cigar guy used to be. It is across the street from that one.

Why in the hell are there going to be 2 Marriott's right across the street from eachother.

The lot across from Gaslamp Square is still a parking lot I was just there, 2 hours ago. What the hell???

There's some mis-communication. The name of the project certainly is not helping things; both have Marriot in their titles. The project descriptions also do not help. One is described as being on the north side of the block... while the other says it's on the north side of a street. Who writes those descriptions? There should be a standard way to describe location... oriented to either the street or the block. Also, both have the same archectural team! What?

This is the real image I should have provided:

http://www.ccdc.com/images/propertyI...sidenceINn.jpg

And description: The other one across the street... has not started. It's pic and description are:

http://www.ccdc.com/images/propertyImages/ACF8C.jpg

HHGaslamp, LLC is planning a 12-story, 369-room full-service hotel with a 6,400 square-foot ballroom, 7,500 square foot spa facility, 4,900 square feet of meeting space, 5,800 square feet of pre-function space, 7,000 square feet of retail space and underground parking to accommodate approximately 255 vehicles, for the north side of J Street between Fifth and Sixth avenues. Construction is expected to begin in summer 2008 with a summer 2010 completion targeted.

One is an Extended-Stay and one is a Courtyard, I think.

The project that has NOT started yet (on the site of the cigar shop) is going to be a Marriott Renaissance Hotel.

The project currently under construction is going to be another Marriott brand.

Does anyone know if they have finally gotten the okay on the federal courthouse?The parking lot next to the jail is fenced off and there was some activity on the site this morning.

nice one!!
 

http://nolensd.com/back01.jpg

The Nolan looks like a nice use of space - - 13 floor office structure going into the narrow space of land between ballpark self-storage and a hotel building :)

This is from their website nlansd.com

existing Marriotts:

Marriott Marina
Marriott Courtyard (on 6th)
Marriott Gaslamp

planned or u/c:

Marriott Extended Stay
Marriott Renaissance
Marriott BallPark Village
JD Marriott Lane Field
Marriott/Nickelodeon Resort

that's 8 total Marriotts in the area!

I'm wondering if Marriott saturating the market will hurt SD's chances in getting an InterContinental, Mandarin Oriental, Rits Carlton or Four Seasons in downtown SD.

Regarding Lane Field - - do you mean "JW" Marriott? If so, this is very exciting indeed! I have stayed at JW Marriott's across Asia and they are not like other Marriotts - - much higher-end, with a resort-type feel, I really like the existing ones

Where did you hear the proposed hotel brand for Lane Field??????

As far as all these Mariott's hurting the chances of a Ritz, Four Seasons, Mandarin-Oriental and the like, really the only Marriott close to that level are the JW Marriotts, the others can't come close. Having a JW at Lane Field could potentially crowd the marked for one of the super-luxury chains, but they would have to market themselves differently. Even though I love JW Marriotts and they are very luxurious, they are still not quite to the ultra-luxe level of a Ritz or a Mandarin Oriental.

When you say "very little money available for hotels" are you talking profit-potential? Everything I have been able to research points to a high profit potential for hotels downtown right now. Of course, developers will likely pounce on the opportunity and saturate the market with hotels to the point where there are too many, but by that time hopefully the residential condo lull will be on the up-swing :) I gues that is how the market works

I do think that 2008 will be a good year for hotel development starting and a "fill-in" year for condos, where the market quiets and vacant condos begin to fill

I also believe that more places to rent - be they affordable housing, mid-level, or high-end rentals are very profitable right now. Strata seems to be trying an interesting tactic by building a large luxury RENTAL tower, I actually think they are tapping into something that is needed. I have a friend from work who just transferred here and I went looking for rentals with them and the market is VERY tight right now. Many more people looking to rent as opposed to buying at the moment.

Alot of companies have colleagues who come to town for secondments, staying 6 months or a year or a couple of years. They are not looking to buy since they know they will not be here permanently. Currently, there are places to appease this need in the UTC and Sorrento area, but not alot downtown. Alot of these business people on secondment are younger, single people moving from large East Coast metros like Boston, NY, etc, and they really would prefer living DT as opposed to UTC even if that means having to commute. I know people in this situation and they say they would lease a car and commute because they are so miserable living in UTC where there's nothing to do. They also (since the company pays the rent) would be looking to rent higher-end. I think Strata is on to something

I really think in the long-run the housing slump will HELP downtown, because it is forcing us to diversify. DT really needs a combination of rentals, condos, hotels, businesses (office), businesses (retail) and affordable and mid-level housing to go along with the high-end. Unfortunately, the one area that will STILL be lacking, as is always the case here in SD, is INFRASTRUCTURE and CIVIC space. That will be the real determination of how far DT SD will go, not the housing market. So far, I would give our city a "D" when it comes to infrastructure and civic development downtown :(

Speaking of high-end hotels, does the San Diegan have a carrier yet?

I drove by the site yesterday. The hotel under construction is a Marriott Residence Inn.

Money to develop new hotels in San Diego (and around the country) is tight right now.

If all of the proposed hotels get built in the next 5 years, it is conceivable that the area will have too many hotel rooms.

Room rates don't justify the cost of new construction.

I drove by the site yesterday. The hotel under construction is a Marriott Residence Inn.