South County in Midst of Development Boom

South County is in the midst of an economic boom that shows no signs of easing, although rising interest rates have caused a few jitters.

“It’s somewhat amazing what’s happening,” said Alan Nevin, director of economic and market research for Xpera Group.

Kent Aden, president of HomeFed Communities, said he’s noticed increased interest in rental apartments in South County.
HomeFed has several for-sale and rental projects under construction In South County.

“We used to look at apartments as feeder home for new home buyers,” Aden said. “The market’s changed to where we’re seeing a cross section of all kinds of renters including people who could afford to buy but don’t.”

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