In the beginning, San Diego was an undeveloped paradise occupied by its indigenous people, who had been here for many years. One of the first documented visits and discoveries of San Diego was in 1542 when Juan Cabrillo sailed to the new land.
He thought it was one of the most beautiful sites for a city he had ever seen and he saw the amazing potential, since it was located right on a natural bay. But Juan Cabrillo left San Diego to continue his voyage north in pursuit of other discoveries.
Then in 1834, San Diego became a township administered by Mexican authorities and remained that way until 1846 when it became a territory of the United States. Shortly after this period in time, San Diego started to be developed.
In 1850, William Davis bought 160 acres by the bay for $2,304, which we now know as Old Town. This area started to be developed and became the central part of San Diego.
In 1867, Alonzo Horton purchased 960 acres of bay-front property for 26 cents per acre. This area is now known as Downtown San Diego. This purchase came to a grand total of $2,496 for the 960 acres. You don’t have to be a real estate guru to figure out this was a once in a lifetime opportunity, particularly when you take into consideration that a single downtown condo sold this year for $2,700,000.
Shortly after 1867, the property that Alonzo purchased became the New Town and was the new central part of San Diego, which we now know as the Gaslamp District in Downtown San Diego.
In 1885, Elisha Babcock purchased the Coronado peninsula for $110,000, which is now known as Coronado Island. It is amazing to think that you cannot even buy a condo on the island for that now. In fact, the least expensive condo that sold there in the last year was a 600 square foot studio in December for $435,000. In addition, single detached homes are selling there in the millions, even in this buyer’s market. One home even sold in the last year for $10,500,000.
Immediately after Elisha bought Coronado, he began developing it. The main focus for him was building the Hotel Del Coronado, which he completed in 1888. It was one of the most spectacular hotels in its day and still remains one of the most beautiful architectural landmarks in the world. Today Coronado Island is one of the most exclusive residential communities in the nation and has some of the most expensive real estate in the world.
The industries, back in the day that helped San Diego grow and become a vibrant city varied. The biggest ones were due to the San Diego Bay. In 1855, whaling was a big industry for San Diego and lasted for a couple of decades, until there were no more whales in the area. Also, tuna fishing was a big industry for many years. In 1871, the U.S. Military came to San Diego and eventually created Navy, Air Force, Army and Marine bases all over the county. Over time, industry in San Diego became much more diversified. As other industries continued to be created and grew over the decades, so did the residential communities.
Because of San Diego’s rich history, we have many beautiful old and historic neighborhoods. Today you can drive in all of these communities and see the architectural magnificence of yesteryear with a variety of home styles like Victorian, Spanish and Craftsman. This is one of the many attributes that give San Diego its amazing charm and beauty.
Like everywhere in the world, real estate prices go up and down over time. However, historically prices have ultimately climbed upward. Although real estate prices have increased considerably over the years, San Diego remains one of the most desirable travel destinations and places to live in the nation, and even the world.
In the beginning, when San Diego was an untouched paradise, there were individuals like William Davis, Alonzo Horton and Elisha Babcock that helped make it the world-class city it is today. There were many other people who were instrumental in the development and growth of San Diego. However, the major real estate developments that these three founding fathers were responsible for remain among the most significant and vibrant parts of San Diego today.
I feel very fortunate to be living in one of the most desirable and beautiful cities in the world, San Diego, California!
Trent St. Louis is a licensed Real Estate Agent and a member of the National, California and San Diego Association of Realtors. He can be reached at trent@tns.net or at his office in Hillcrest, The Metropolitan Group. DRE#01273643.
