Tijuana luxury development, NewCity, is one step closer to completion as its fourth tower wraps up construction, marking a new chapter in the market’s maturity — and, possibly, a new opportunity between San Diego and the Mexican city.
Residents of NewCity can get to a downtown San Diego building in about an hour, according to the San Diego Union-Tribune. With units selling at comparable prices to the Texas city’s market and NewCity’s security and luxury amenities, the developer team is hoping to attract more Americans buyers.
Units are currently selling for between $170,000 to $315,000 depending on size and 10 percent of sales have been to Americans.
The $170 million project, which began in the late 1990s, currently consists of four condo towers — construction on a fifth is slated to begin soon — and will include health care facilities, a spa and soccer field when the 8-acre complex is completed.
[San Diego Union-Tribune] — E.K. Hudson