San Diego considering more apartment rental regulations to limit fees.

 

San Diego is considering new apartment regulations regarding rental fees.

Investopedia: The Average US Homebuyer is 40 Years Old.

 

The average US homebuyer is now 40 years old.

Retail Repositioning - Including Major National Tenants Like Starbucks and Denny's

 

More retail repositioning is happening involving larger retail chains.  Higher costs of everything from labor to eggs to electricity have forced the closure of more restaurants and coffee establishments in San Diego.  Fast food operators are bearing the brunt as the minimum wage has been raised to $20.00 per hour.   Market Watch - Denny's Restaurants

The End of an Era: Fry's Electronics Retail Use in Serra Mesa Gives Way to New Apartment Development

The iconic Fry’s Electronics building located at 9825 Stonecrest Blvd San Diego, California 92123,  in the Serra Mesa neighborhood, was once a hub for tech enthusiasts, is being demolished to make way for a new apartment complex. The property, which has stood vacant since Fry’s closed its doors in February 2021, will be transformed into a 310-unit apartment complex.  

The Highest and Best Use of many retail properties in San Diego County has shifted to multifamily housing.  The site, just south of a Walmart along the I-15, has excellent exposure and access. 

Since Fry's closed its doors, the once-bustling parking lot has been fenced off, signaling the start of its transformation. As construction moves forward with plans for the new 310-unit multifamily development, it marks another shift in Serra Mesa’s landscape, with a growing focus on housing in the area. Though it’s bittersweet for those who remember the thrill of Fry’s and Incredible Universe, it’s a reminder of how retail spaces must evolve to meet the community's changing needs.

Rental Rates Since the LA Fires

 

The Guardian is reporting on rents in L.A. since the fire.    According to the article, "Between 7 and 18 January, more than 1,300 listings on Zillow appear to have broken the state’s price gouging law, the report found. More than 1,100 landlords and real estate agents have engaged in the tactic, with 38 identified as repeat offenders. Altogether, the listings sought to illegally overcharge renters by $7.7m a month, or $92.4m a year."

New Developments Planned for National City

 

New National City Project Planned    Six sites are being offered to developers to expand the housing stock in South Bay. "Officials have previously estimated National City needs an additional 5,500 new housing units by 2029 in National City to meet regional demands."

New Real Estate Developments Coming Online in 2025.

 

New San Diego County real estate projects opening in 2025. Some much-needed multifamily and single-family projects are coming online in the South Bay this year. The South Bay also has the Gaylord Pacific waterfront development.  A new extension and exit on I-5 is now dedicated to this significant bayfront hospitality project.