The Phoenix developer has the project sitting at 8th and B located in between the Symphony Towers and Vantage Point apartments. NBC 7's Nicole Gonzales reports.
Civic San Diego approved plans this week for what will be Downtown San Diego’s largest apartment complex.
The $300 million development called Blue Sky is aimed at attracting young, single tenants.
Developers are focusing their plans solely on this special clientele.
The plans show that the complex will predominately be studios and one-bedroom apartments. As of now, developers intend to have less than 200 two-bedroom apartments in the entire complex.
Currently a vacant lot, located at 8th and B, Blue Sky will offer hundreds of new apartments by 2015.
A report from the San Diego County Apartment Association says that the vacancy rate in San Diego County is at 4.5 percent.
According the data company MarketPointe, the county has the sixth-lowest vacancy rate in the nation. This number suggests that rental units are still in high demand.
With a low- vacancy rate, the city of San Diego will be welcoming the new 900 unit apartment complex.
Unless plans are appealed, the developers of Blue Sky are hoping to attain permits within 90 days and begin construction this summer.