MIRA MESA, Calif. (KGTV) - A new housing project in Mira Mesa opened this month, bringing as many as 1,800 new homes to San Diego.
About 120 residents have already moved into 3Roots, the new complex off Miramar Road and Camino Santa Fe.
"3Roots is a really exciting community," says Paul Barnes, the President of Shea Homes. "It's an amazing success and a super community."
The community will have 1,100 homes for sale, as well as 450 market-rate rental apartments and 180 apartments set aside as affordable housing.
In addition to the homes, developers promise parks, a fitness center, trails, and a new 23-acre community park that will be open to everyone.
Homes in the complex range from $700,000 to over $1.8 million.
More than half of the homes have already sold, despite a recent rise in interest rates that's made mortgages more expensive.
"We're in an area where there's gainful employment in the area," explains Barnes when asked about the complex's popularity. "We have not seen any decrease because of interest rates for this location."
His company estimates there are anywhere from 10-20,000 people on the waiting list for the new homes as they come on the market. The developers plan to open them in phases over the next four years.
Barnes says the development has been so popular because it's near major employers like Google, Qualcomm, Apple, and other tech or life-sciences businesses in Mira Mesa and Sorrento Valley.
"It's everything you'd want in an urban environment," he adds. "(It's) close to employment, and a lot of people will be able to commute on bicycles."
A recent plan by the city showed a goal to build 108,000 new homes in San Diego between 2021 and 2029. This is a good start. But there's a lot of catching up to do.
According to San Diego's recent housing report, there were only around 47,000 new homes built from 2011 - 2020.
"Housing is so limited in San Diego," says Barnes. "With our population base, we should be producing significantly more housing. And this is a drop in the bucket, but every drop helps."
The developers also intend to add commercial space with restaurants and other amenities as people move in. For now, they're excited that a few hundred people already call 3Roots home.