San Diego Housing Market News and Analysis

I've been watching the apartmentopolis of Casa Mira View spring up like a spring mushroom lately. They are renting units out already-- 1 and 2 BR apartments. There is also another complex going up on the hill overlooking I-15 and MM Blvd from the east side of the fwy. A drive by today revealed no sign out front, so I don't know if it will be apartments or condos.

Both these establishments look like real pack-em-in projects. For Casa Mira View I count roughly 7 buildings (kind of an arbitrary call because they seem to merge into one another), each 5 stories tall and roughly 20 units per story per building, by my very back-of-the-envelope estimate. Thus a total guesstimate of 700 - 1000 units.

The other one up on the hill looks like, at my guesstimage, about 250-300 units total. 4 or 5 buildings, 4 stories tall, roughly 60 units per building.

If I use an estimated average of 1.5 residents per unit (I believe this is a tad low), then we are looking at 1,425 to 1,950 people housed in these complexes when they are built out. I think that may make somewhat of a dent in the rental supply availability, at least in the Mira Mesa area (MM is IIRC about 50,000 people total).

I think though that the real impact will be to both traffic and sewer in the area of that interchange. I hope I'm wrong-- and hopefully whoever programs the traffic lights in that area can do a good job of helping the traffic flow. It depends on where those new renters are going to be working. If they will be going up and down the 15 to work, OK it will be the freeway interchange that gets hit. If they work in Carmel Valley, that will make the already-ugly Mira Mesa Boulevard commuter traffic into even more of a parking lot than it is already.