Have you ever wondered why no homes have been built at the Westfield Mission Valley West shopping center? The reason comes down to the existence of a land-use document that restricted this type of development for 41 years.
Now, that land-use document no longer applies. The San Diego City Council has amended the Mission Valley Community Plan, permitting mixed use zoning at the shopping center.
That means that along with retail spaces, the shopping center can now feature multifamily residences, office spaces and more.
What does this mean for the future? Well, for starters, property values have already gone up, and now have the potential to climb more if residential units are added to the shopping center.
Remarking on the change, Westfield executive Kimberly Brewer said, “We are glad to be complete with the removing of Westfield Mission Valley West from the First San Diego River Improvement Project Specific Plan. It was clean-up from the community plan update to allow us to take advantage of the new density in the (Mission Valley Community Plan).”
Westfield itself may or may not intend to build new units at the site; right now, they are selling a lot of real estate. With the value of the Mission Valley West shopping center increased, it may make sense for Westfield to sell this property as well.
I Can Help You Buy a Home in San Diego
It will be some time before there are likely homes available to move into at the Mission Valley West shopping center. In the meantime, I can help you buy a home elsewhere in Mission Valley West, Mission Valley East, or anywhere else in the San Diego area. To get started, please give me a call at (619) 857-7191.
Do you know how much home you can afford?
Most people don’t... Find out in 10 minutes.Get Pre-Approved Today