We’ve all seen the TV shows about the tiny house trend. Well, this minimalist concept has impacted the way developers are building some apartment complexes. They are known as micro-apartments, and it is a housing trend that is gaining in popularity—especially in urban areas where space is increasingly limited.

Micro-Apartments in San Diego

San Diego is one of the cities leading the charge of the micro-apartment movement. In fact, there is a development nearing completion in the East Village part of town. The complex is known as Nook East Village and it’s all about small-scale living in the city. It is slated to open in October and they are already taking applications.

Nook East Village will contain 91 units that range from about 240 square feet up to just over 300 square feet. If you need a frame of reference, the average parking space is roughly 180 square feet. These micro-apartments may seem tiny, but they were designed by experts to maximize the living space. Each unit will have a main room, a kitchenette, a bathroom with a standup shower and a storage area. Some will also have small balconies.

Increasing Demand for Micro-Apartments

It’s no secret that rental prices have gone through the roof in San Diego County, with no real signs of slowing down any time soon. The need for affordable housing in the city is a real concern, so micro-apartment complexes like Nook East Village may be the ideal solution for some residents willing to give up space (and some other amenities) in order to have a place in a more convenient urban location. They are especially desirable to people who want to live alone and not deal with the hassles of roommates.

One big trade-off for residents of Nook East Village will be that there are only eight parking spaces dedicated for the entire building, and one of those spots is specifically dedicated for car share tenants. Parking is a huge issue for any new development in the city and it is typically required for there to be at least one parking space for each unit in an apartment complex. However, micro-apartments are categorized as “affordable housing” and these same parking regulations do not apply.

However, a lot of the people wanting to live in a micro-apartment will not even have a car. They will utilize ride share strategies, bicycles and public transportation to get around town. Being able to live within the city helps eliminate the need for owning a car for the type of tenant that this complex will likely attract.

Are You Interested in a Micro-Apartment?

The units at Nook East Village will start out at around $1,200 a month and they are limited to tenants making less than $54,000 a year. Eight of the units will also be set aside specifically for veterans facing homelessness.

Personally, I am going to keep a close eye on the micro-apartment trend, especially Nook East Village as it’s located just a couple blocks from where I live. I think it can be a successful affordable living concept for San Diego renters and other similar developments are already in the works. Only time will tell, though.

What do you think about the micro-apartment concept as an affordable living solution? I’d love to hear what you think. Email me at beau@tspmortgage.com or call me at (619) 929-0199.

Beau Hodson

Beau Hodson

About the Author Since 2003, Beau has been a mortgage professional and is a leading mortgage broker and lender in San Diego. As Founder and Senior Mortgage Advisor at Transparent Mortgage, he is truly committed to serving the needs of his clients and raising industry standards for integrity and transparency.