I live in UCSD owned apartments in UTC, and I’ve noticed the prices drop in the past 6 months on the external signage on the Venitian and that other complex of conversions on Nobel Drive.
I had a friend who rented in the Venitian (it was actually a relatively good deal) and got booted out when they did the conversions.
The UCSD area has such a housing crunch thanks to the lack of dorm rooms and lack of non-“luxury” condos in the area, (thanks in part to the curse of a “La Jolla” area code), that buying a place with the intention of using it as a rental property isn’t the worst idea ever. You’d have to actually run the real numbers, but at least you know there will always be rental demand in the area. Still, waiting and watching for the prices to drop further couldn’t hurt.
