UTC is University Towne Centre, a shopping mall. The area immediately surrounding the mall, mostly office buildings and upscale condos, has become known as UTC. It's just off I-805; the exit is La Jolla Village Drive. It's next to or part of La Jolla and University City. The university is the University of California at San Diego.

The downtown Residence Inn is close to the Embarcadero. Although I'm not a huge fan of Pacific Highway in general, it may suit you nicely. Your kids will enjoy the pool and there are several things to visit - Star of India, Midway museum, harbor cruise amongst others - or restaurants to eat at within walking distance.