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Real Estate Section — Downtown Condo Project Sells Out Its First Phase

An urban infill condominium project Downtown has completely sold out its first phase of 22 units, prompting the release of a second group of 19 homes.

Village Walk, developed by The Olson Co.-San Diego, on India Street between Beach and Cedar streets, was designed by Martinez + Cutri Architects of San Diego. The design was inspired by the Italian fishing village of Burano near Venice, said Beth Binger, a spokeswoman for the developer.

The 72-unit Renaissance-style project has such features as courtyards, a central fountain and imported tile throughout, she said. Eight floor plans ranging from 950 to 2,150 square feet are being offered. Some units have retail shop space on the ground floor with living space in the upper two levels.

The complex also has gated underground parking, a community room and an exercise room, she said.

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Work has just started on another condominium project a few blocks away. Crown Bay, an 86-unit residential and retail commercial project, is being built on the corner of Fourth Avenue and K Street by Crown Bay LLC, a privately held company based in San Diego, said Diane Erickson, project manager.

The condominiums in the six-story development start in the low $200,000s and range up to $600,000. Two-thirds of them have already been pre-sold, she said.

Meanwhile in the suburbs of Chula Vista, an official of the Otay Ranch Co. said brisk sales at the development by several builders last year helped South County reach a new record.

Nearly 25 percent of all the new homes sold in San Diego County were located in the south county area, said Kim Kilkenny, executive vice president of the Otay Ranch Co.

A half-dozen different builders have put up 43 decorated model homes at the master-planned community, where prices range from the low $200,000s to the high $300,000s.

Finishing touches are being made to four model homes at Shellbourne in La Costa Valley in preparation for a grand opening June 17. Davidson Communities of Del Mar also plans to release 12 homes starting in the low $500,000s in the first phase.

The homes will be available in four floor plans, ranging from 2,722 to 3,904 square feet with the average lot size about 11,000 square feet, said President Bill Davidson.

Among the options offered are a large laundry room, study area, master bedroom retreat, wine room, and decks and French doors off of the master bedroom, he said. The 99 homes that will be built are in the master-planned development of La Costa Valley.

In San Marcos, sales at Ryland Homes’ Highlands Collection have entered the fifth phase, with 11 more homes released for sale.

Many of the homes, which are being offered for between $311,000 and $358,000, have views of the Twin Oaks Golf Course, said Marcie Little, marketing director.

About 52 of the eventual 100 homes in the Ryland development have already been sold, she said. The three- to five-bedroom houses are from 2,250 to 3,170 square feet in size.

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