First look: Expensive One Paseo apartments open

One of two swimming pools at One Paseo, the upscale apartment homes project in Carmel Valley, part of the 23-acre, $600 million-plus mixed-use development.
One of two swimming pools at One Paseo, the upscale apartment homes project in Carmel Valley, part of the 23-acre, $600 million-plus mixed-use development.
(Howard Lipin / The San Diego Union-Tribune)

The Carmel Valley development will eventually include 608 apartments


After you get over the sticker shock, One Paseo’s apartments are a thing to behold.

It appears no amenity was spared in the Carmel Valley development, a sprawling project that includes enough retail to be considered its own mall and office space.

Rent for a studio at One Paseo starts at $2,350 a month; $2,800 for a one-bedroom; $3,450 for a two-bedroom; and $5,100 for a three-bedroom.

Rents are significantly higher than average rents in San Diego County, which were around $1,839 a month in the third quarter, said real estate tracker CoStar.

One Paseo is strategically located about 7 miles up the road from Sorrento Valley where many of the county’s highest paid tech and biotech jobs are located. There are now 237 apartments available, with an additional 225 apartments opening around November and 146 in early 2020.

Jay Rey-Hipolito, a vice president with developer Kilroy, said the company took great pains to make the project special for its new tenants. So far, around 30 renters have moved in. They all signed leases before the project was even completed.

“I think the real strength of the project is the amenities,” he said during a tour of the property earlier this week.


Mail Room

One of the first amenities renters encounter is the mail room. You normally don’t think of the mail room as a place to spend more than a minute, but Kilroy turned it into a resident lounge. There is booth seating and chairs and couches to congregate, or just do homework or read a book.

There is artistic lighting above the mail boxes and a graffiti style mural of downtown San Diego on the wall. Rey-Hipolito said Kilroy wanted to create a space where neighbors could meet each other.


Mixology room

On the third floor of the first completed residential building is a 1,500-square-foot common space, which Kilroy calls the “mixology room.” It has a 95-inch TV and couches to watch major sports events, or whatever else a group of renters feels like watching.

There is space to make food or play an Atari Pong machine. The room is on a first-come, first-served basis for residents, but will also be available to be rented out for special events.


Outdoor Courtyard

Residents will have access to an outdoor courtyard with industrial-sized barbecue pits, seating areas and a gas fireplace. Kilroy says it will eventually be able to invite yoga businesses on the grass area to hold sessions for residents.



The 6,000-square-foot gym includes modern equipment, including rowing machines, Stairmasters, space for dancing or yoga, CrossFit-style tire lifting and other equipment. It has a garage-style door that will let fresh air enter the workout space.

Renters could also sign up for other fitness opportunities in the retail area if they don’t feel like using the community gym, including Pilates at Body Rok, cycling at Soulcycle and yoga at Vibe Flow.



The first pool to open for residents will be freshwater, but a second pool with saltwater should open around November. The newly opened pool is about 30 feet wide and 72 foot long. There is also a hot tub and plenty of seating, making it likely a popular spot in the summer time. Bamboo and palm trees surround the space.



All apartments will have a balcony, and washer and dryer in each unit. Each bedroom gets a parking space, so it is not like renters will be fighting shoppers for spots.

Studios will average 590 square feet, said CoStar. One bedrooms average 743 square feet; two bedrooms average 998 square feet; and three bedrooms will average 1,708 square feet.

Rey-Hipolito said it is hard to pin down exactly the type of renter One Paseo will attract, considering leasing began in July. However, he said the company was surprised to find many empty nesters signing leases.

The competition for luxury renters is heating up in the surrounding area. In mid-July, the Palisade at Westfield UTC apartment complex opened with an average monthly rent of $4,100. Only about 8 miles from One Paseo, the development also went big on amenities: A massive pool, oudoor areas, gym, a karaoke room, library, and a rooftop lounge on the 23rd floor that provides views as far as the ocean.

Going in the opposite direction, an apartment complex that opened in September in Little Italy decided to go sparse on the amenities to keep rent down. The Continental building is made up of 42 studios, averaging 380 square feet, that have an average monthly asking rent of $1,550. Developers Jonathan and Matthew Segal said they were betting residents would rather live in a smaller place with few amenities if it meant cheaper rent.