Bosa Breaks Ground on Parcel 9 at Pacific and Broadway
In mid December both Fox News and Union Tribune reported that Vancouver based developer Nat Bosa had green lighted his next and most expensive condo high-rise project known as Parcel 9 at the corner of Pacific and Broadway in Downtown San Diego to soon break ground and be completed in 2017.
Bosa Parcel 9 at Pacific & Broadway- Priciest Condos in Downtown San Diego
Finally after much anticipation, last week Bosa broke ground on Parcel 9 at Pacific and Broadway located in the Columbia neighborhood of Downtown, just south of Santa Fe Depot.
Parcel 9 at Pacific & Broadway by Bosa Development Breaks Ground in Downtown San Diego
Parcel 9 at Santa Fe Depot, the project doesn’t have a name yet as Bosa plans to hold a marketing contest to select what it will be called, will be a 450-foot, 41-story high-rise and will include 232 residential condo units ranging from 956 to 2,083 square feet and 16,027 square feet of retail space, possibly for a signature restaurant. This new tower is been built just west of Electra, another of Bosa Development’s flagship condo project.
Bosa Breaks Ground on Parcel 9 at Pacific & Broadway
Condos at this Bosa new condo development at Pacific and Broadway are projected to sell at an average of $1.75 million. According to the same reports even the smallest units at the currently projected rate of $1,060 per square foot would sell for just over $1 million.
If condos on this new high-rise project actually sell at those expected prices that will significantly raise property values on all other downtown San Diego condos that currently sell in the $400 to $600 per square foot price range.
Bosa said similar condos go for even more in Vancouver, Seattle and San Francisco, partly due to interest from foreign buyers who are looking for places to park their wealth. They represent 10 to 12 percent of buyers in those cities, he said.
“I think we’ll get some interest but nowhere near that high,” he said. “Our market is mainly people from California. They want to sell their home and move down and some want a great unit. It’s a great location that’s going to maintain its value.”
“A great city deserves a great tower with a distinctive character,” said the architectural narrative by the firm, Kohn Pedersen Fox that is designing the project. “San Diego is a beautiful city with a long stretch of ocean front. Inspired by the dynamic forms of waves and the graceful geometry of seashells, two embracing curves define the unique oval-shaped tower with two open ends.”
More information on this new Bosa condo tower in Downtown San Diego will be posted on the tower’s own page as soon as a permanent name for this project has been determined. Call us if you would like to be put on the interest list.
