Former Fry’s Site in Kearny Mesa Moves Forward as Housing
Kearny Mesa continues to convert older commercial land into housing. One of the most visible examples is the former Fry’s Electronics site on Stonecrest Boulevard, where residential construction has been underway.
What is being built
According to San Diego Union-Tribune reporting in July 2026, the first phase includes hundreds of apartments, with a larger full buildout planned over time. The project sits on land reshaped by the Kearny Mesa community plan update, which opened more commercial properties to residential use.
Local context
This fits a broader San Diego pattern: soft demand for some retail and big-box sites, combined with zoning updates that make housing the higher-value use. For nearby owners and buyers, that can mean more renters, more traffic at certain nodes, and a slowly changing neighborhood mix.
Mortgage angle
If you are buying near new multifamily deliveries, underwrite the payment you can keep comfortably even if local rental competition increases later. New supply does not automatically lower purchase prices, but it can change investor and renter behavior around a submarket.
Source reporting: San Diego Union-Tribune (July 26, 2026).
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