New Kid On The Block, Electra
Filed Under categories: Columbia District, Downtown, News You Can Use, Real Estate News
posted by Raye on February 27th, 2008
Click here to view all properties for sale at Electra
Well, the neighborhood is expanding. Electra, Bosa’s newest high rise in San Diego is open and new owners are moving in daily. This 43 story residential high rise combines the historical legacy of the 1911 San Diego Gas & Electric facility with a contemporary and sleek residential tower. This newest addition to the Columbia District in downtown San Diego is creating quite a buzz because of the elegant and unique Conservatory, beautiful lobby and amenities and the variety of floor plans offering views and state of the art appliances and finishes.
The Electra was first offered for sale in January of 2005 when the real estate market was on fire. Since then, as every one with a pulse knows, there have been some changes in the market and speculators who purchased in Electra hoping for big returns by flipping at the close are extremely disappointed. But, bad news for sellers means good news for buyers. There is a vast assortment of units already being offered for resale and prices reflect motivation and, sometimes, desperation. It will take at least six months or longer for the inventory to be absorbed and pricing to settle down. But, keep in mind, there will be no more new product until Bosa’s Bayside project is finished in 2009. So, the Marina District and Columbia District have this one new project to promote. And, remember, the Columbia District is just beginning. Once this district is fully developed according to city and Port District approved plans over the next 10 years, it will be one of the most beautiful and desirable waterfronts in America.
It’s amazing to me when I talk to people that they are put off by the fact their views may change over the next ten years. But, they fail to realize that the reason for the change is hundreds of millions of dollars of development which seldom causes a loss of value. My comment to the reluctant buyer is that they should wait ten years until all the development is finished and come back to buy. Of course, the price per square foot will be more than double of today but, at least they will know the final view. Meanwhile, the pioneers and visionaries who invest today will enjoy the benefits tomorrow.
Take a look at some of the gorgeous offerings at Electra. Contact us anytime for more information. We offer day and night showings, seven days a week. The city lights are spectacular!
This entry was posted on Wednesday, February 27th, 2008 at 5:57 am and is filed under Columbia District, Downtown, News You Can Use, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.
WOW! Looks like a great place to live. I loved that you have imbedded a YOUTube video into your blog. Kepp up the great work.
David