I’m imagining that the cheapest unit will have to be an apartment-style, 2br/2ba and about 850sf in the back of the complex where you’ll get trucks rumbling below, and the trains behind you?  For around the mid-$300,000s? 

I think there will be takers at that price point, as long as the fees are under $400/mo.

But shouldn’t that be it? 

If they are reasonable on pricing, they could sell out quick, with the lack of inventory in downtown Encinitas.  They’d be better off, because they’ll need to close more than 50% of them concurrently to qualify for Fannie/Freddie financing – if they learn the lesson from the builders of Vantage Point:

Pin It on Pinterest