{"id":129075,"date":"2025-08-08T12:52:10","date_gmt":"2025-08-08T12:52:10","guid":{"rendered":"https:\/\/www.europesays.com\/us\/129075\/"},"modified":"2025-08-08T12:52:10","modified_gmt":"2025-08-08T12:52:10","slug":"little-italys-newest-apartment-complex-nears-completion","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/129075\/","title":{"rendered":"Little Italy’s newest apartment complex nears completion"},"content":{"rendered":"

Little Italy\u2019s newest apartment complex in two years already has less expensive rent than its neighbors, but apartments are smaller and farther from the action.<\/p>\n

The Ancora building\u2019s 120 studios, which average 479 square feet, are around $2,700 a month, said real estate tracker CoStar, about $100 less than the average rent for a studio in Little Italy \u2014 one of San Diego\u2019s most desired neighborhoods.<\/p>\n

Little Italy tends to have some of the most expensive rents in San Diego, not the place to go if you are on the hunt for a deal, and other new buildings tend to charge much more. For example, the newest apartment building before Ancora, the nearby 395-unit Simone complex on Union Street that opened in 2023<\/a>, charges an average $3,096 a month for a studio.<\/p>\n

Musashi Liu, director of development and acquisition at Greystar, said the smaller apartment sizes at Ancora were a way to keep rents lower than neighbors while still keeping the project financially feasible.<\/p>\n

\u201cIt\u2019s high-end luxury coastal living,\u201d he said. \u201cThe great thing about this is we are at about a $1,500 discount compared to other buildings because they are smaller units.\u201d<\/p>\n

Ancora, on Beech Street between First and Second avenues, is on the very edge of what could be considered Little Italy. The border to the neighborhood seems to be expanding each year, at least in the minds of downtown developers. Neighborhood boundaries are much more nebulous than, say, city borders, and Google shows Ancora in Little Italy but most city maps have it narrowly outside.<\/p>\n

Gary London, a San Diego housing analyst, said potential renters will be the judge if they are in Little Italy. He assumed they would decide they are not.<\/p>\n

The 22-story Ancora complex, which tops out around 240 feet, also has one-bedroom units averaging 583 square feet for around $3,701 a month and two-bedrooms, averaging 850 square feet, for about $4,505 a month. London said those rents would be easily attainable in the heart of Little Italy, near the Piazza della Famiglia where the farmers market takes place. Ancora is about a 10-minute walk from the Piazza.<\/p>\n

Pre-leasing for the complex started last week, with a promotion for the first 10 lease signers to get eight weeks free. Liu said they have about 400 people on an interest list, despite it likely not opening until November.<\/p>\n