For those who want to purchase a brand-new home in Carlsbad, the Sunny Creek area is the last remaining spot where 100+ homes will be built eventually.
The ‘subject property’ above has listed for $7,500,000 for 19 approved lots:
https://www.loopnet.com/Listing/Sunny-Creek-Rd-Carlsbad-CA/24450629/
But the Big Kahuna is the 104-lot Cantarini Ranch property, which has been in process since 1996. The detailed history of its development can be found here:
https://cantarini-hollysprings.com/history
It is owned by the Wests, who are the billionaires who also own the West Bistro, and West Steakhouse on Cannon – both of which are rumored to remain closed after the pandemic. The Cantarini Ranch story is a fascinating tale on the trouble people have getting homes built.
I see 160 homeowners who would pony up the $7.5m or ($50k each) to buy and hold that property. In fact, if they held that lot in trust their property values would go up twice the purchase price.
That history is absolutely fascinating. Imagine spending 25+ years of your career on a singular development – all that litigation, engineering, red tape. For _nothing_! The mind reels! Plus, it’s a big chunk of Carlsbad – contrarian ownership by eccentric billionaire who wants only rich people 55+ housing does absolutely nothing to, um, actually help the city grow and prosper?
I love this quote (must be nice):
After commenting that the $30 Million+ Cantarini Ranch property was just “a rounding error on my financial statement” and that his wife wanted to “turn it into a dog park”,
I have no idea what Wests are up to these days – they always seemed totally unpredictable but the restaurants were absolute gems, both of them.
PS “College Avenue Reach A” cannot happen soon enough
@JtR
don’t forget about the new subdivision going up soon where Tommy’s Hideaway used to be.
hmmmm…..YoY change +13%…..Cantarini ranch……Toll Brotherd in Leucadia…..
I may be seeing your sign out front sooner than expected!!
don’t forget about the new subdivision going up soon where Tommy’s Hideaway used to be.
Those are townhouses so they will have minimal impact. They will sell out within minutes as long as they are under a million.
even in the low 1’s I would expect them to sell out fast.
and my error, I mean Bobby’s Hideaway. I was thinking of Tommy’s Burgers for some reason.
Do you mean Timmy Barlow?