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Developers face new world, high building, insurance costs.

Publication: San Diego Business Journal
Publication Date: 23-FEB-04 		Format: Online - approximately 1133 words
Delivery: Immediate Online Access
Full Article Title: Developers face new world, high building, insurance costs.(Advertising Supplement)

Article Excerpt
On one recent autumn day, Bosa Development Corp. poured 14,000 cubic yards of concrete at the site of The Grande, a set of two 39-story condominium towers going up in downtown San Diego. "It was a massive undertaking," Eric Martin, Vancouver, British Columbia-based Bosa's vice president of development, said of the concrete work. And that's just for starters. Next come the cranes, steel and more concrete.

Up the road, Bosa is gearing up to build twin 18-story high-rises in Irvine--the county's first on the scale of those going up in San Diego or like those found in Los Angeles and Long Beach. Bosa's Marquee at Park Place has ignited talks and plans by other developers here now plotting their own condo towers, betting Orange County is ripe for high-rise living. But high-rise development is a new ballgame for local developers, which don't have track records in the construction and marketing of these giant, complicated and costly buildings. OC's real estate players know all about building cheaper wood-frame homes and...

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