A $40 million mixed-use project in Tijuana is gearing up to break ground, and developers are betting on its ability to attract foreign investors that need office space, as well as its proximity to the border.
Plans for Cosmopolitan City Center call for 118,400 square feet of office space, 147 condominiums and around 26,000 square feet of retail. The 20-story complex is expected to take nearly three years to build.
City Center’s location — near the always packed Costco and at an intersection of three busy roads — is in a heavily trafficked area of drivers and pedestrians. Already approved by Tijuana officials, the project from Tijuana-based Cosmopolitan Group is expected to begin construction in three months.
It will be one of the only places in Tijuana’s business district to have new condos and would be a rare example of mixed-use in the city where people can live, shop and work.
Salomon Saul, commercial director of Cosmopolitan Group, said he expects the project to appeal to foreign investors who have businesses in Tijuana but don’t want to be far from the United States border. A car ride from the PedWest border crossing to the site is less than five minutes and about a 20 minute walk.
“It basically has everything,” Saul said. “Being two minutes from the border helps a lot. Especially with American customers.”