Chula Vista: Poised for Massive Growth

Overview

The forthcoming Gaylord Pacific Resort & Convention Center represents one of the most significant economic and infrastructural investments in San Diego County’s recent history. Set to open in May 2025, this $1.3 billion public-private partnership between the Port of San Diego, Marriott International, and the City of Chula Vista is poised to reshape the city’s waterfront—and, by extension, its real estate investment landscape. 

Spanning 535 acres along the Chula Vista Bayfront, the development includes over 1,600 hotel rooms, 275,000 square feet of meeting and event space, multiple restaurants, retail spaces, and expansive public parks. Beyond its physical footprint, the Gaylord Pacific is projected to:

• Generate 4,000+ permanent jobs

• Draw 500,000+ visitors annually

• Infuse $500 million per year into the local economy

• Serve as a springboard for complementary residential and commercial developments
  (Source: Chula Vista Bayfront)

Zoning Reform & Strategic Growth

To accommodate this growth, Chula Vista has been proactively updating its Bayfront Master Plan—a 20-year vision to guide land use, infrastructure, and sustainability efforts throughout the waterfront corridor. Notable highlights include:

• Rezoning underutilized parcels for medium- and high-density multifamily development

• Introducing mixed-use overlays along key corridors like H Street and E Street (Reference Rezoning Updates HERE)

• Improving public transit connectivity and pedestrian infrastructure

Convention Centers & Their Multifamily Ripple Effect

Case studies with similar hospitality anchor projects in secondary markets provides valuable insight:

• Music City Center – Nashville, TN: Property values within a 1.5-mile radius increased 44% within five years of opening. Multifamily rent premiums of 10–15% were recorded near the convention corridor.
  (Source: Nashville Downtown Partnership, 2018 Report)

• Gaylord Texan – Grapevine, TX: Transformed a suburban area into a regional destination, prompting the repositioning of legacy Class B/C multifamily assets and a surge in both short- and medium-term rental demand. (Source: A Tale of Two Lobbies Gaylord & Gray Wolf)

• Anaheim Convention Center Expansions – Anaheim, CA: Triggered significant investment around the Platinum Triangle, leading to rezoning for high-density housing, mixed-use retail, and robust rent growth across mid-size multifamily properties.

When thoughtfully developed, convention centers do far more than host large-scale events—they become powerful drivers of economic growth and urban revitalization. In city after city, these projects have acted as catalysts for neighborhood transformation, elevating property values and investor confidence in the surrounding area. As visitor traffic increases and public infrastructure improves, nearby real estate—particularly housing—often sees a surge in demand, appreciation, and renewed investment activity.

Job Creation & Economic Multipliers

The Gaylord Pacific is expected to become a regional employment hub with far-reaching economic effects. This influx of employment and tourism activity is anticipated to stimulate demand for:

• Workforce housing near the Bayfront

• Short-term rental options for investors, contractors, and corporate guests

• Increased retail leasing activity and service-oriented commercial development

Local businesses will discover unprecedented opportunities for growth as the resort’s convention center attracts more than 3,000 attendees per event. Surrounding developments, such as Amara Bay and Bayview Point, will bring additional hotels, residential units, and commercial spaces to the area. Retail shops, restaurants, and service providers will thrive as tourism and local spending power increase. This diversified economy will create a resilient business environment for years to come.

Strategic Capital is Already Flowing In

Over the past year, we’ve seen a clear increase in investor interest in Chula Vista’s multifamily market — particularly west of I-5. Investors positioning themselves near key growth areas are already starting to benefit from rising rents, stronger occupancy, and sustained tenant demand. The most active buyer groups entering the market include:

    1. 1031 Exchange Investors Seeking Higher Yield

• • Who They Are: Seasoned investors selling properties in more expensive markets and looking to reinvest their equity in markets with higher upside. 
  • Why They’re Coming: Chula Vista offers better cash flow and more room for appreciation, especially as the convention center boosts jobs, tourism, and infrastructure.

    2. Developers & Small-Scale Builders

• • Who They Are: Local and regional developers looking for small multifamily lots to build ADUs, add units, or rebuild entirely under more favorable zoning.
  • Why They’re Coming: As the Bayfront evolves, so do surrounding neighborhoods — especially those with underutilized lots or potential for density increases.

    3. Medium-Term Rental & STR-Focused Operators

• • Who They Are: Investors targeting furnished rentals for traveling nurses, business travelers, or families attending events at the convention center.
  • Why They’re Coming: With Gaylord Pacific will bringing in over 500,000 visitors annually, this will create massive demand for short- and medium-term housing just outside the hotel footprint. STR licensing and proximity to the Bayfront will become more valuable.

    4. Owner-Occupants & Multi-Generational Buyers

• • Who They Are: Families or individuals looking to live in one unit and rent out the others — or purchase for their children and build long-term wealth.
  • Why They’re Coming: As Chula Vista becomes more desirable, these buyers are seeking affordable alternatives to pricier central neighborhoods while still staying near the coast and major job centers. 

The early movers are setting the foundation for the next wave of institutional attention—particularly as rental performance data begins to reflect the full impact of the Gaylord Pacific’s operations. 

Chula Vista Economic & Investment Snapshot

​Investors considering the Chula Vista market should focus on these key demographic indicators:​

• Population Growth: Chula Vista's population increased from 243,916 in 2010 to 275,487 in 2020, reflecting a growth rate of approximately 12.9% over the decade. ​

• Median Household Income: As of 2023, the median household income in Chula Vista is $105,173, surpassing the national median of $78,538. 

• Employment Base: The city boasts a diverse employment landscape, with significant contributions from sectors such as education, healthcare, aerospace, and public services.​

• Age Demographics: The median age in Chula Vista is 37, indicating a relatively young population that can drive housing demand. ​

• Renter vs. Owner Occupancy: Approximately 40% of households in Chula Vista are renter-occupied, suggesting a robust rental market. ​

• Current Multifamily Cap Rates (Q1 2025):

  • Class A: 4.90% - 5.20%

  • Class B: 4.95% - 5.30%

  • Class C: 5.60% - 6.00%

As large-scale projects like the Gaylord Pacific reshape Chula Vista, we anticipate a short-term increase in cap rates driven by new supply outpacing initial demand. However, as job creation, tourism, and infrastructure improvements take hold, demand is expected to catch up, leading to renewed cap rate compression—especially for well-located, stabilized assets. 

What to Watch for as Gaylord Pacific Opens on May 15, 2025

As we approach the grand opening, expect the following market indicators to shift over the coming years:

• Increased short-term rental permit activity in the Marina and Westside districts

• Construction permit acceleration for ADUs, infill projects, and density bonuses

• Retail leasing announcements tied to increased foot traffic and hospitality demand

• Year-over-year rent increases in nearby neighborhoods as housing supply lags behind demand

For existing property owners, this may represent a timely window to reposition underperforming assets, unlock hidden equity, or explore strategic exits. With thousands of jobs projected and billions in long-term economic impact, Gaylord Pacific is the type of anchor development that turns overlooked zip codes into high-performing investment zones. The South Bay of San Diego isn’t just catching up — it’s gearing for a breakout.

Conclusion

Strategic Portfolio Evaluation Is More Important Than Ever

The Chula Vista market is entering a new phase of growth—and smart capital is already taking notice. For investors, now is the time to reevaluate where and how your assets are working for you.

At CCG, we work directly with investors to:

✔ Assess property performance and current valuation
✔ Explore 1031 exchange options and capital redeployment strategies
✔ Identify underutilized income opportunities within existing portfolios
✔ Access exclusive off-market deals aligned with evolving market trends

The market is shifting. Your portfolio should, too.

📩 Let’s connect. If you own—or are looking to acquire—investment property in Southern California, we offer complimentary portfolio reviews and strategic planning sessions tailored to your goals.

Schedule HERE

Sources: 

• Apartment Loan Store. (n.d.). Cap Loan Rates in Chula Vista, CA.

• CBS 8. (2024). Chula Vista’s Gaylord Pacific project is hiring hundreds of workers.

• Choose Grapevine, TX. (2023). A Tale of Two Lobbies: Gaylord & Great Wolf Are Frenemies for Life.

• Chula Vista Living. (2024). Gaylord Pacific Resort & Convention Center in Chula Vista.

• City of Chula Vista GIS. (n.d.). Chula Vista Map Gallery.

• HKS Architect. Gaylord Pacific Hotel and Convention Center.

• inewsource. (2025). Chula Vista Convention Center and Resort Construction Expands, Parks Underway.

• Lowe, E. J. (n.d.). Chula Vista Bayfront: What Landlords Need to Know. Apartment Owners Association of California.

• Mortenson Construction. (n.d.). Gaylord Pacific Resort.

• U.S. Census Bureau. (2024). QuickFacts: Chula Vista city, California.

• Urban Land Institute. (2023). Convention Centers Integrate with the Urban Realm to Stay Competitive.