OCEANSIDE -- More than 400 people had the chance to get a bird's-eye view of the new wave of development in downtown Oceanside on Tuesday as they toured the third floor of a six-story building under construction next to the movie theater.

City officials said that the Oceanside Terraces, which will have stores and a restaurant on the first floor, offices on the second level and condominiums on the upper floors, is one of several large projects planned to create a vibrant downtown.

Standing on the third floor of the concrete building, expected to be finished by next summer, city officials pointed out the sites for projects such as a 300-room Westin resort and 130 time shares.

"It's location, location, location," Mayor Jim Wood said. "This is the perfect location with the beach and pier, what more could you ask for?

"This is the type of project the city has been looking for, for years."

Oceanside Terraces will include two levels of underground parking, a large restaurant on the ground floor, about 15 office suites available for sale and 38 condominiums, which will be two and three bedrooms and begin at $700,000.

The developer has already sold 10 of the condominiums, and Bonsall residents Jo and Chuck Dube said they bought one of the first available units.

Jo Dube, who was walking around the top of the building with a floor plan, said the couple wanted to find a place where they didn't have to always get in their car to go to a restaurant, the store or the beach.

"Oceanside is going through an amazing renaissance," Dube said. "We want to be part of it."

Dube said they were excited about the downtown area because the six- and seven-story buildings will provide shops, restaurants and offices for residents who buy the condominiums or time shares on the upper floors.

John Kocmur, president of the developer, Janez Group, said the projects planned for downtown Oceanside will provide residents the chance "to work, live and play in one area."

"This structure is going to bring a lot to the downtown area," Kocmur said. "But this is just the first of many planned for the city."

Several blocks to the northwest, there are more than 130 time shares and 20 hotel units under construction as part of the project called the Fairfield Oceanside at the pier.

The seven-story building will have restaurants and shops on the ground floor, two-levels of underground parking and two towers filled with the time shares and hotel rooms, said Bob Brann, project superintendent for Davis Reed Construction.

He said three stories have been built and the project should be complete by next summer.

Fairfield and Oceanside Terraces should open around the same time, city officials said Tuesday.

"Who will win the race between (Oceanside Terraces) and Fairfield?" joked Councilman Jack Feller during an informal speech praising the Oceanside Terraces. "This is going to be a great catalyst for development down here."

City officials said the building will fit in well with a 300-room Westin resort proposed a couple of blocks to the west.

Last week, the City Council approved a tentative agreement with developer S.D. Malkin Properties that will require the city to invest $27 million in the $187 million resort.

"Get ready to make way for the hotel," said Councilwoman Esther Sanchez while touring the Oceanside Terraces project.

Sanchez said the building under construction is just one step forward for the city, and several of the businessmen and residents touring the building echoed those sentiments.

Mark Tozier, a real estate agent from Temecula, said he came to see the new project because he does a lot of business in Oceanside.

"This is fabulous and Oceanside is finally doing something right," said Tozier. "This is really going to change the face of Oceanside for the better."

- Contact staff writer David Sterrett at (760) 901-4067 or dsterrett@nctimes.com.