There’s residential areas right next to UTC right now… practically on top of it. Torrey Pines Village is practically in the Red Robin parking lot and wraps all the way behind the ice rink and food court. And then there are condos by the Sears garage and parking structure. I could easily see condos going on top of the mall there.
As for the comment about what students could afford to live there. That’s pretty funny. Lots of rich parents pay for huge rents all over UTC and La Jolla. It amazes me that those areas are some of the most expensive places to live in the country, and there are TONS of college kids living around there.
BTW, I had the unfortunate experience of living in Torrey Pines Village when I first moved here. Not for me, but some people love it.