Building Activity Surged in San Diego County in March

The San Diego County apartment/condo construction in March rose sharply after a flat February, according to the John Burnham & Co. San Diego County monthly apartment report.

New permits valued at $56,329,004, representing 1,746 new units, were issued last month, a 558% jump over only $8,551,940 (293 units) in March 1984. For the year-to-date, new permits totaled $80,587,992 (2,488 units), up 20% over $67,075,771 issued the first quarter of 1984.

Burnham’s apartment broker, George Carlson, who compiles the report, believes no clear-cut trends for 1985 are apparent as yet.

“Two trends, however, may be developing according to our study,” Carlson said. “First, condominium activity dropped in March for the quarter, representing a drop of 20% from the same period last year.

“Second, East County topped North County in monthly sales activity for the first time in nearly five years with 18 projects, representing 446 units, changing hands in March, compared to North County’s 15 projects and 222 units, respectively. North County sale totals continued to lead all other areas.”