Top Projects & Trends to Look Out for in 2020
As 2020 commences, numerous impactful projects around the city are well underway and make no mistake, these will be affecting everyone in the city. From new developments to new laws, we’ve compiled a list of noteworthy items to keep an eye on.
Horton Plaza Redevelopment: Dubbed the “retail ghost”, the proposed mixed-use office campus has been stalled due to legal woes. Macy’s is suing the mall-owner over the new plans in an effort to block the redevelopment. Overall, this is not good news for the heart of downtown as the giant space lays predominantly empty bringing in no revenue or attractions.
Rent Control: Foreign to San Diego, the new Rent Control initiative has come into effect in 2020 – however, the bill does not have tenants celebrating. Why? Because of the landlord limitations, it is feared that rents will now increase more frequently than previously. Read more here.
Mission Valley Stadium: SDSU seems to have been successful in their $86.2M bid to purchase the 135 acre city-owned land & redevelop a new stadium slated for the 2022 NCAA football season.
Convention Center Expansion: The new hotel tax on the 2020 ballot in March will fund the expansion on the convention center. The measure requires two-thirds majority to pass, but has thus far garnered support from business leaders and organized labor.
Residential Building: Homebuilding throughout San Diego county slowed in 2019, with a 24% decline in permits issued. With pressure from the state’s capitol for more housing, the outlook does not look promising for 2020.