The saga of Barratt American’s Nantucket in Leucadia is winding down, and the neighbors should be pleased about how it is turning out:
1. Sales are all over $1,000,000.
2. The eyesore has gone away.
3. The low-income housing will be complete.
For some history, click here for some of the first coverage from 2008:
https://www.bubbleinfo.com/2008/12/18/leucadia-sore-spot/
Here’s the story of Shea buying the property from a flipper, who bought it as an REO from Bank of America. The first house shown, the split-level, closed for $1,400,000:
https://www.bubbleinfo.com/2010/08/18/leucadias-nantucket/
The L.A.Times story on a certain part-time blogger:
http://articles.latimes.com/2009/apr/02/business/fi-real-estate2
Congratulations Magic & Co.:
http://www.latimes.com/sports/basketball/nba/lakers/la-sp-0329-dodgers-magic-20120329,0,5012740.story
A group led by Magic Johnson, the Lakers legend whose championship lineage and community involvement have made him one of the most beloved sports figures in Los Angeles history, was selected Tuesday as the next owner of the Dodgers.
The Dodgers announced the winning bid was for $2 billion and that McCourt and “certain affiliates of the purchasers” would buy the land surrounding Dodger Stadium for $150 million.
“I am thrilled to be part of the historic Dodger franchise and intend to build on the fantastic foundation laid by Frank McCourt as we drive the Dodgers back to the front page of the sports section in our wonderful community of Los Angeles,” Johnson said in a statement.
I don’t understand why they are building “low-income housing” next to these million plus homes? Is that some kind of requirement that the city does so they can get a building permit?
Geez, you weren’t kidding — that’s gotta be the worst layout I’ve ever seen in a big house.
The HST of Real Estate? Jim, if you are taking any drugs it would have to be lithium.
cash buyers are coming out of the woodwork.
All over $1M…nice.
Terrible floorplans, no lots…but at least the comps are decent and they’re finished.
Goes to show you though…people don’t mind paying $1.3M in Leucadia to, literally, be right next to a greenhouse and other eclectic Leucadia activities.
I believe I was in HS when this development got underway and here it is 4 and a half years later and it’s FINALLY getting done. ha.
Thaylor Harmor ,
I’ll have to check, but I think Jim might be wrong on this. I want to say they moved all the low-income housing to a spot down on Vulcan near RCP, where (yet another stalled) development is eventually going to happen.
I think you are right Joe, there was some behind-the-scenes deal-making on the low-income stuff. Typical for the city council of Encinitas these days!
Good thing they ditched the Nantucket name, since there is not a single home on Nantucket that bears any resemblance to these fugly structures.
There was once a development called Nantucket
Whose floor plans were conceived in a bucket
They were over a “mil”
buyers couldn’t wait until
The council said “low income?”, well XXXX XX
JtR, re the LA Times article. Can we now start calling you “Gonzo” ?
My favorite Nantucket home is the the one at the end of the original development…with the larger lot, pool and everything. I liked the floorplan too.
But now it’s suddenly off the market? I’m not too sure what happened there. It was a very nice house with a lot of upgrades.
And that lot next door? They’re doin the summer garden this year as well! those people are into that lot for a big amount (it was a group of people). Nothing positive there…
@CB Mark: LOL! Great stuff!
@12, this house? http://www.brenthaywood.com/gallery/13202665_wcNbR
I found that link on the leucadia blog. Redfin says it sold last November for $1.375M.
http://www.redfin.com/CA/Encinitas/1920-Paxton-Way-92024/home/17204967
The model is just as hideous, ack! According to redfin it sold for $10k over $1M.
Here’s your post where you discuss the low income housing component with TLB proprietor.
https://www.bubbleinfo.com/2011/07/21/more-tyvek/