Downtown San Diego’s 92101 zip code is the 8th hottest for apartment construction in the United States, with 5,346 units built over just five years from 2017 to 2022, according to a recent study from RentCafe.com.
This pace of development surpasses the achievements of entire cities, since construction projects usually take three to four years, said a spokeswoman for the a nationwide apartment search website.
The new apartments mean an uptick of 46% in the apartment stock of the downtown area, and more than half fall into the high-end category, she said.
The numbers are quite impressive compared to other cities in California.
The leading zip code in San Francisco built just over 4,000 apartments in the same timeframe, while Los Angeles’ top zip code saw just around 1,000 new apartments. Â
The top performing zip codes for apartment construction nationwide were in the metro Washington, DC, area.
In zip code 20002, more than 7,300 apartments were constructed in the five-year period, a 73% increase. In a neighboring zip code, 20003, more than 7,200 new apartments were built.
Oft-quoted San Diego news source Alan Nevin, a demographer and economist, has published a new book “The Next Half Century: Prepare for an Amazing Change in World Prosperity,” in which he foresees a brighter future despite current global concerns of doom and gloom.
In the book, Nevi suggests that the United States will continue to lead in creating new industries and jobs, driven by shifts in population, lifestyle, education, and employment trends.
With a career focused on studying leading world economies and real estate development, Nevin provides insights into the economic outlook for California, Texas, Georgia, Florida, and the Carolinas, predicting changes like the rarity of single-family detached homes and a shift away from hospital-based healthcare.
He also delves into the impact of climate change on construction, infrastructure, and insurance industries, as well as the potential long-term effects of China’s one-child policy on its economy.
Nevin also explores India’s potential to challenge China’s status as the largest country, assesses Russia’s population health issues, and identifies countries on the path to becoming Second World nations.
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San Diego digital health startup CARI Health says it has secured a $2.8 million grant from the drug abuse unit of the National Institutes of Health.
According to a news release, the grant will be used to aid the development and launch of the world’s inaugural wearable medication monitor.
The funding will be disbursed over a three-year period, contingent on the successful completion of project milestones.
CARI Health, which has previously received financial backing from multiple sources, including the San Diego Angel Conference, NuFund Venture Group and individual angel investors, has gained additional investments from the Cedars Sinai Accelerator and the Rady Venture Fund.
CARI Health Founder and CEO Patrik Schmidle said the advent of new solutions in combating the national opioid crisis is critical. He said remote monitoring offers a patient-friendly method to prove methadone treatment compliance.
Schmidle said he started the company after witnessing a family member’s struggle with opioids.
The NIH grant will support product development and enable the execution of human clinical studies for the wearable medication monitoring device.
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Finally, a new travel option for San Diego. Alaska Airlines is adding a new nonstop summer flights connecting Anchorage to San Diego. The new weekly flights start May 18 and end Aug. 17 of 2024.
Tom York is a Carlsbad-based independent journalist who specializes in writing about business and the economy. If you have news tips you’d like to share, send them to tom.york@gmail.com.