San Diego Housing Bubble News and Analysis

I should add that I am not sure how many of the 4700 homes will be condos vs. rentals, but anyway it will add alot to the supply....

I believe Radelow, a regular poster here, is involved directly with that project. I'm sure he'll step up with info shortly.

I won't step into this discussion too much, you are free to read the EIR though! But the plan is for 4000+ residential units but obviously we understand the market and the timing. Sounds like a lot of units but remember the goal is to move residential availability close to employment centers to reduce sprawl and commuting. Plus the plan is designed to be a city within a city allowing people to walk for many of their daily needs.

We are very patient developers. :) This project has a 15+ year build-out horizon. The plan meets the ideas of infill development and the City of Villages idea and will provide access to the Trolley. Yes that is a lot of density however we are building millions of dollars of offsite improvements including improving freeway interchanges. The plan includes a huge park, school, some retail and office as well as Senior Housing, apartments, multi-family and single-family homes. We have worked extensively with the neighboring communities to develop a plan that best meets their desires. We think we are coming up with a great redevelopment of a real eyesore to the valley. The project is also a LEED ND pilot project and we are looking to build as much green on the site as possible. I'm very excited about it!

Take a look around the website, it gives a lot of information. You can watch Tom's video and download the EIR.

When will the first homes be available? What type of amenities and how much will they go for? It appears to be a very well thought out plan. Sure hope it works well for everyone.

Pricing will be based on what the market will bear at the time. Timing is most likely 2010 for the first homes if not 2011. Obviously we are well aware as to what is going on in the housing market (I am one of the biggest bears here!). As far as amenities the specifics of the plan have not been worked out but there will be a large park, lots of public spaces, walking trails, etc. In addition to a school (High Tech High) among other things. The website is http://www.quarryfalls.com. I encourage you to let the City know you support the project if indeed you do. We work very different than other developers. Instead of forcing our ideas on the public we let the public take part in the design. That was a huge part of this project and why there is a lot of support for it.

schools would be a key part.....Many people dont realize there are actually alot of young professional couples with children in mission valey...
Open space and bike paths would also be great..

Check out the EIR. Lot's of pictures showing the design of the park, ballparks, walking paths, finger parks, etc.

That is actually pretty cool for San Diego, looks like some of the ideas of new urbanism.

radelow, I like Quarry Falls.

You posted that you want to buy eventually. Why not wait and buy at Quarry Falls since you work for the project? Would you not get some good discounts?

No discounts for anyone!

I love it there and our new office will be there most likely. The problem is I am a car junkie (my one main vice) and I really need garage space. The project is mostly multi-family and while some units will have garages it's not the same as an SFR with garage. Besides I am more a SFR kinda guy...I really want to find something in Mission Hills. I like the historic homes in that area.

I visited the web page and liked what I saw, especially about decreasing reliance on the car. It is mentioned that the houses will be affordable. What demographics are specifically being targeted? Middle level I guess ?

We are targeting several markets with the product mix. The ideal is to try and provide housing for most stages of economic life. There is also Senior housing on site which is non-market as well as apartments.

The key to making housing affordable is density. You need to produce dense product to divide the costs of infrastructure, land, etc. among as many homes as possible. Of course without going overboard.

I too like Mission Hills. Problem is that housing stock is old so you have to rehab the house before you move in.

I'm all for density. The more the better. I think that the city should change the zoning to allow mid-rises in older areas where delapidated houses could be torn down for better newer housing.

I love the City of Villages concepts. But we will need a faster trolley system to connect all those villages.

radelow, you are very self aware. As the orignator of the three car garage monitor and a proponent of 3 br 6 car garage housing, I feel your pain. Since you are a talented developer, when and where are you going to develop the community for the modern eccentric male , where garages outnumber bedrooms, where each home is fitted with a cigar lounge that has it's own HVAC system, sealed off from the complaining olefactory nodes of the women folk. Housing that will keep me out of divorce court. C'mon, we are of the same ilk, help a brother out.

temeculaguy too funny. Altough I don't know where you got "talented developer" from because that is certainly not true. :) I at least try to be somewhat environmentally sound using 100% bio-diesel in my daily driver. The owner of our company drives a Prius actually.

But more to the topic at hand the biggest failing this city has right now is the lack of mass transit. I wish we would have some leadership that would have pushed for more mass transit. I look at the HOV lane on the 15 and say to myself it would have been just as easy (well not really) to build two rail tracks instead much like you see in areas of Los Angeles. The city actually lays out well for mass transit, it just takes real leadership to push it through.

Back from the dead:

The City Council passed the project. I wonder if it will actually get built.

Quarry Falls

"Praising a Mission Valley project as a model for future growth, the City Council yesterday approved a massive development that eventually will bring nearly 5,000 new homes to the community."

Wow, I had no idea there were two others (TG and GoUSC) on this board who were both car nuts needing a huge garage, yet 100% on board with helping the environment and mass transit.

Those positions seem like an oxymoron, but they really aren't. I finally got my huge garage and it is fab-u-lous! I have no idea how people live in homes w/just 2 or 3 bays!

I just wanted to say cheers guys...keep on caring...and driving.

creechrr;

Yes Quarry Falls will get built. You don't spend 6
+ years working with the neighborhood communities on a project of this scope and then not build it. Obviously the market dictates the pace at which it will be built. I am proud of what our company has designed for the redevelopment of a quarry. It will be a model for future development in this city and what communities should expect from their developers.

The fact of the matter is that San Diego will grow over the next 30 years. You can either put your head in the sand and not realize it and then end up with a shortage of housing and rush poorly designed and planned residential product into the market or you can do what Quarry Falls did. Spend years working with the City, the community, environmentalist etc. and create a project that truly is a model for future development. There will always be people against projects like this but a lot of those people would also like to put a fence around the city and not allow your kids, my kids, or even their kids the opportunity to live in a great place like San Diego.

Oh and yes I love cars. I grew up with a father who collected them and I think there is absolutely nothing wrong with admiring the workmanship and creativity of your fellow humans. Some people like the art of a painting hanging all the wall...I personally like the art of a 1961 Ferrari GT Spider California. *DROOL*

I hope the project is completed. I'm also a car lover and have a dream of a 3+ car garage filled with automotive projects. As I am not currently a home owner, the more projects that are completed within the county the greater my chances of achieving my dream while staying within my means.

Good luck!