Williams Lyon Homes - Promenade at Spectrum

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Submitted by SD Transplant on July 23, 2007 - 8:45am

As I drive to work daily, I stare at this apartment/townhouse complex as construction crews keep on doing their thing. The builder has been building in phases,and it finally started to build up the rest of the empty lots. However, I can't think who would want to live in the middle of a commercial complex. I guess the back of the Frito Lay's depot, Northrop Grumman's buildings, Sempra Energy/SDG&E's buildings, or the new building that is being retrofited to meet FAA flying guides for the near airpot, qualify as a view. In any event, I see some signs of buyers that already moved in the first phases of the complex wanting to leave (either these guys cannot afford it - intrest only mortgage readjusting, or they realized it is not a glamorous lifestyle in the middle of a commercial arena, what used to be (from what I'm told) the old part of the General Dynamics depot dump.

http://sandiego.lyonhomes.com/homes/comm...

Anyone has any stories along this/these developments?

Submitted by Allan from Fallbrook on July 23, 2007 - 8:56am.

I know the commercial side of the development is being done by Sunroad Development, and they are locked in a lawsuit with the City of San Diego (and Mike Aguirre, specifically) regarding removing the top two floors of the Centrum 12 commercial building. There are supposed to be two additional office towers going in there as well, but those will only get built if commercial occupancy on the first tower exceeds a certain threshold (I think it's 60% occupied). My understanding is that finding tenants on the commercial side has been tough for Sunroad.

Centrum is supposed to be a real showpiece development and was touted by the Transcript and the UT as "revitalizing" the old GenDyn Missile Park area.

Submitted by GoUSC on July 23, 2007 - 9:03am.

The Sunroad situation has essentially been resolved with Sunroad agreeing to remove the top two floors of their office building.

Submitted by fromnj on July 23, 2007 - 9:59am.

We visited a few times last Octover/November to see their apartment right accross the street. Their floor plan was very nice and we were in the waiting list to move into their newer part of apartment building. But at the end, there was no call from them. I thought the floor plan between apartimet and condo were very similar.
We were also looking to rent their condo/townhome, but the available ones at that time were all situated on the second floor, so we passed.

It looks like the situation got changed dramatically since then. I realized that the noise came from airport or airplane, but my wife's co-worker actually is currently living one of apartment buildings. And then it seems that she likes living there for now.

Submitted by SD Realtor on July 23, 2007 - 10:41am.

I know Spectrum very well and was able to convince a buyer to NOT buy there this past summer and to sit and wait for awhile. I feel this area will get pounded pretty good by foreclosures.

SD Realtor

Submitted by fromnj on July 23, 2007 - 10:55am.

I heard the news the other day that the people in Kearny Messa wanted the airport to move out of town and wants to have more new homes and commercial properties for their own busintess.

I am not sure of the future, but who is actually using that local airport anyway. I might be wrong, but it looks like it cannot even host a small commuter/business jet since it is really so small. But if they are hosting the jet, I understand that people do not want to live there even it is close to great restaurants along convoy st.

Submitted by PerryChase on July 23, 2007 - 11:05am.

I like this development of stacked condos with garage. It's a great place for young families who want a brand new, low maintenance home that's centrally located. From there you can zoom on to Mission Valley, Downtown, or La Jolla in no time at all. The neighborhood is nothing spectacular but for people who don't care, or don't stay home much, this is a good place.

Sunset Cove by the same builder in Clairemont/Baypark is also cool. Some units there have ocean views. The neighborhood is more interesting and ocean close but prices are about $100k more for townhouses.

Both these development are not so good for retirees because of the many stairs. Eventually, old people could not live in these units.

Personally, I love revedevelopment/infill projects. Big builders should do more of those and bring the mass production (and lowers prices for brand new homes) to existing neighborhoods.

All and all, they are still way overpriced and I wouldn't buy. Renting is a much better deal.

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