Millenia Also Creates Homes for BusinessesPROPERTY: Chula Vista Sees Big Development as Job Creator Monday, September 23, 2013
Eastern Chula Vista has seen considerable commercial and residential growth in the past decade. In the past 15 years, several builders have developed and sold thousands of homes in the Otay Ranch master-planned community of southeastern Chula Vista, south of the Millenia site. Those homes were followed by the Otay Ranch Town Center regional mall and other retail and apartment developments.
As a result, Forbes magazine recently ranked Chula Vista as the nation’s
second-fastest growing city during the recession, with its population up 17.7 percent since 2007. Its population was just under 244,000 as of the 2010 Census, making it the 14th-largest city in California.
The Right Site
Economist Alan Nevin noted that plans by multiple developers for Villages 8 and 9 in Otay Ranch are expected to add another 3,000 homes to the city, starting in 2015. He said Millenia is well-poised to capitalize on surrounding development in Chula Vista, provided it can supply homes that are priced to meet local buyers’ demographics.
Attached townhomes have sold quickly in Chula Vista and elsewhere in San Diego County, he said.
“The site that McMillin has selected is a very good location,” said Nevin, director of economic and market research at consulting firm Xpera Group in Solana Beach. “Chula Vista is about the last place left in San Diego County with available land for developments this size.”
Diversify on Chula Vista’s Mind
Chula Vista has other long-term planning in the works to diversify its economy and employment base. It is working, for instance, with the Port of San Diego to develop its western bay-front region with future condos, apartments, hotels, and other commercial and recreational amenities, aimed at making it a destination city.
Not far from the Millenia site, Otay Land Co., led by HomeFed Corp. of Carlsbad, is working with the city of Chula Vista to acquire land for its long-discussed University District. The city is looking to attract a branch campus of a community college, or a public or private university, to a district that would span about 375 acres, Mayor Cheryl Cox said.
Millenia, if hotel and office elements fall into place, represents another piece of the puzzle in diversifying the city’s economy, Cox said. Another involves capitalizing on increasing cross-border trade with Mexico in an improving economy, taking advantage of recent improvements to border crossing points and local roadways including state Route 125.
Many new Chula Vista residents in coming years will be heading south of the border to work, not just northward to San Diego.
“This is the first of these long-planned developments to move forward,” Cox said of Millenia. “We also need to make sure we have some of our own new jobs in place for the people who decide to live here.”
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