fbpx

Downtown Carlsbad is Cooking

Two downtown residential condominium buildings with a mixture of market-rate and affordable housing, ground-floor commercial space and underground parking got the go-ahead for construction last week from the Carlsbad City Council.

The Carlsbad Station project will cover 1.76 acres of the city block between State and Roosevelt streets, north of Grand Avenue and a half-block walk from the Carlsbad Village train station. The site includes several different lots with eight buildings constructed between 1947 and 1981, some which are occupied by long-time tenants such as Hennessey’s Tavern that could resume business in the new structures.

The two four-story buildings will include 79 residential condominiums ranging from 14 one-bedroom units, each with 747 square feet, to four four-bedroom units, each with 2,877 square feet. Twelve of the condos will be reserved for occupants who qualify for affordable housing and will be indistinguishable from the market-rate condos. Four commercial units will occupy the ground floor, and the underground parking will have 143 spaces.

Frontage along Roosevelt and State streets will get new curbs, gutters, sidewalks, bike racks, street trees and landscaping.

The City Council voted 3-1 Tuesday to approve a tentative tract map and site development plan for the project, with Councilwoman Cori Schumacher opposed. Schumacher said the city should be “more prescriptive” with its affordable housing requirements, such as specifying whether the affordable condos should be for sale or for rent. City officials said those details will be determined later.

Mayor Matt Hall and a number of long-time Carlsbad residents praised the project.

“You truly went far and beyond,” Hall said of the applicant McKellar McGowan, a San Diego real estate development firm. “I like the architecture and that you will bring back some existing tenants.”

Parts of the two buildings will be set back from the street to make them appear less tall than they really are. The side facing Roosevelt will only have three stories at the street, and the side facing State will only have one floor at the street, with the upper three stories set back 50 feet. A pedestrian promenade will connect Roosevelt and State streets between the two buildings.

Several speakers said the project is an example of “smart growth,” in which more dense residential development with affordable homes is built near public transit, jobs and services.

“This is exactly where a mixed-income project should be located,” said Angeli Calinog , a policy manager for the nonprofit public transit advocate Circulate San Diego.

“This is one of the best projects we’ve seen in many, many years, and the first one to use the new Village and Barrio Master Plan,” said Gary Nessim, a Carlsbad Village business owner. “It fits the community very nicely.”

While all the speakers at the council meeting supported the project, a few residents wrote letters in opposition.

“It’s sad to see major developments taking over our beach town,” wrote lifelong resident Adam Faringhy. “I beg of the City Council to slow their pace and consider saving some of our local landmarks.”

Others said the project would increase traffic congestion and force out more small businesses.

But most were in support, including Christine Davis, executive director of The Carlsbad Village Association, a nonprofit that promotes business and culture in the Village.

“While a large project, it has been thoughtfully broken into smaller pieces to blend into our downtown environment,” Davis wrote.

Link to Article

SB 1079

Hat tip to Susie who sent in this article about a law recently passed in California:

The new rules apply to one- to four-unit properties sold at foreclosure auctions. If an investor wins one of those homes at auction, then people who want to live in it, as well as nonprofit organizations and government entities, get 45 days to submit competing offers.

If the home is a rental, the tenants living there could win by matching the investor’s offer. Other would-be buyers must offer more than the investor.

Known as SB 1079, the law takes effect Jan. 1, 2021.

State Sen. Nancy Skinner (D-Berkeley), the bill’s author, said her goal was to make it easier for individuals and affordable-housing groups to compete with investors.

“Homeownership is the primary way people have to build up generational wealth,” she said. “When we have rules that give advantage to a corporation, then that dream is just not available.”

The manager of the foreclosure auction is required to maintain a website that details the highest bid at the auction and how to submit competing offers.

Link to LAT article

I don’t know how many amateurs will be paying more than investors for homes sight unseen, and without proper title searches for additional liens.  But there will be a few!

It was the last paragraph that was the most intriguing.

The State of California has institutionalized transparency!

Making the highest bid known to the public could revolutionize our business. Can you imagine if Zillow ran a website that openly tracked the offers on their homes for sale – buyers would love the transparency!  Then every brokerage would be pressured into doing the same, and boom – no more agent shenanigans!

Are you thinking of selling?

Transparency can help ignite a bidding war, and get buyers to bid up the price because it becomes more about winning, then getting a deal.  It’s how I handle my listings – let’s talk about how I can help you!

Here’s the classic courthouse-steps example of how auctions help to drive up the price:

Dog Lover’s Paradise in Cardiff

Check out my new listing in Cardiff-by-the-Sea!

1384 Evergreen Dr

2br/1ba, 922sf

YB: 1974

LP = $609,000 – Now Pending!

Tucked away in the very back of Park Place, this hidden jewel has new windows and slider, luxury vinyl plank flooring, practically new kitchen, and tiki lounge with spa! The HOA owns a 25-acre private park across the street with pool/spa, volleyball, baseball field, hiking trails and off-leash dog policy!





Bonsall Horse Property

29725 Margale Ln

5 br/3 ba, 2,970sf

YB: 2007

2.03 acres

LP: $979,000

What a find! A newer custom one-story retreat in the country with dazzling hardwood floors, high ceilings, eat-in kitchen with chef’s island and well-appointed master suite. The design reflects a sophisticated yet casual higher-end quality, plus the 2+ acres are professionally landscaped and include Rancho-quality horse facilities fit for a champion! Game room, guest suite, huge 3-car garage, and plenty of RV parking too – and be sure to relax under the pepper tree pavilion! Fully fenced property, private gated drive, horse area with 3 stalls and work area, 24’x24’ and 16’x24’ stalls and an arena, minutes from 1-15 with easy access to all the conveniences, golf, wine tasting, hiking and outdoor activities. Just 15 miles to the beach, 25 miles to snow, and 45 to the desert. Highly-rated Bonsall schools too, plus you can join the newly renovated Vista Valley Country Club that is only 1.5 miles away!

https://www.zillow.com/homedetails/29725-Margale-Ln-Vista-CA-92084/82933764_zpid/

One-Story Country Estate with 2br ADU

They say that everyone is fleeing the urban markets for the country, and this is a good example of how much further your money will go.  It is fairly close to town too – you wouldn’t really need to change doctors, etc. and for those who need a top-notch granny flat, have I got a deal for you!

29780 Reza Ct., Vista, CA 92084

4 br/4.5 ba one-story house

2 br/1 ba guest house above the garage with kitchen and laundry

4,200sf

YB: 2010

3-car garage with workshop

1.46 acres (yet low maintenance)

Bonsall schools

LP = $1,195,000

https://www.compass.com/listing/29780-reza-court-vista-ca-92084/623947343538281105/

2 br/1 ba guest house with laundry above garage

Pin It on Pinterest