Condominium developers say they are getting started on several large projects in Downtown as other homebuilders report land acquisition and grading activity in other parts of the county.
Reliance Development Group, a Los Angeles and New York-based builder, late last month started accepting reservations for its 220-unit, twin tower high-rise project in the Marina District.
Construction at the Front and Market streets sites will get started in February 2000, with completion anticipated some time in 2001, said Henry A. Lambert, president of Reliance. The company will cater to the high-tech crowd by furnishing each residence with high-speed, fiber-optic Internet access, he said.
Bosa Development California held a preview grand opening of Discovery at Cortez Hill last month that generated 75 reservations for units, said Sandra Melville, project sales representative.
Located on Beech Street between Eighth and Ninth avenues, the 22-story residential tower will have 194 condominiums. It’s about a block from the El Cortez Hotel, which is being converted into condominiums.
The company’s Marina District project, Horizons at 555 Front St., sold out its first 100-unit tower in one weekend, she said.
Canadians In Little Italy
Meanwhile, the Little Italy Association voted to support Canadian firm Intracorp’s Porta Siena, a condominium development at India and Cedar streets. Michael Brekka, vice president of Intracorp, said plans have also been submitted to the Centre City Development Corp. for approval.
He said the review is due to be completed by the end of this year. When completed, 88 one- and two-bedroom condominiums will sit on the site.
Costa Mesa-based Epac Estates has closed escrow on 16 estate-size lots in Cielo, a 1,750-acre development near Rancho Santa Fe.
Dave Dacus, vice president of marketing and sales for master developer Rancho Cielo Estates Ltd. of Rancho Santa Fe, said the lot package sold for $8.1 million.
An official of Shea Homes San Diego said the company is planning to build two neighborhoods in Otay Ranch. A total of 254 homes will be built at the two neighborhoods, said Cindy Roush, sales director for Shea Homes.
Grading at 4S Ranch near Rancho Bernardo started late last month, with home builders to be selected early next year to complete the first four neighborhoods there, which will total 337 single-family homes.
About 4,700 homes are scheduled to be built at the development, said Mike Kennedy, general manager of 4S Ranch.