Based on a recent building application with the city, it looks like Bosa has purchased (back) the parking lot on Broadway and Pacific Hwy…just north of the Santa Fe Depot Parcel 9 lot. Bosa had originally sold the lot to the Irvine Company back in 2007 for $90M and was going to build a 34 story office building, but according to their application, they plan on building a 45 story residential highrise. This would make this new tower downtown’s tallest residential building (currently Electra is the tallest at 43 stories).
Currently referred to only as Broadway & Pacific – Parcel 1, this new highrise would have 300 condos and 15,000 sqft of commercial space. It would be directly south of The Grande South and just east of the new hotels being built on Lane Field. It would also mean that Bosa would own the entire western residential waterfront. Bosa currently owns the lot that the Office Depot is on, Parcel 9 to the north, then this new building, The Grande South and North and Bayside (also Kettner and Ash just to the east). That would be six consecutive luxury condo highrises, situated as close as you can get to the water (the Port doesn’t allow any residential zoning west or south of Pacific Hwy), built by arguably San Diego’s best developer. This news further validates my belief that the Columbia District is one of San Diego’s best investments and that it may become downtown’s most expensive neighborhood.
Please click here to receive updates on the new Parcel 9 building, or contact me, Denny Oh, at 858-243-2092 or [email protected] for any real estate questions.