San Diego’s newest high-end apartment tower, Folia, is now leasing with rates competitive with mortgage payments per month.
The 342-unit building at 12520 Camino Del Sur abuts Carmel Valley, near Sorrento Valley’s booming biotech industry.
Folia amenities include a fitness center with outdoor exercise space, swimming pool, hot tub, co-work spaces, package storage, and parking.
Outside is a putting green, foosball table, hammocks, and bocce ball court.
The units are spacious compared to most new developments, with one-bedroom averaging 801 square feet, two-bedroom averaging 1,175 square feet, and three-bedroom averaging 1,429 square feet.
Folia rents are far in excess of the county norm. A one-bedroom is $3,389 per month, a two-bedroom $4,316, and a three-bedroom $5,274, according to CoStar.
But there’s a special deal available on long-term leases of up to eight weeks’ rent free.
Developed by Holland Partner Group, the structure has garnered interest mainly from technology professionals in their 30s.
While some local opposition to increased housing density, there will be strong demand for high-end rentals in the area, given that it possesses an affluent employee base and has limited housing options.
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