Every seller west of the 5 is going to expect $4-something now:
Fox Point Farms is a new “Agrihood” community spanning approximately 21.5-acre in the City of Encinitas. The site will provide 250 new residential units, including a mix of 53 for-sale cottages, carriage units, and townhomes, as well as 197 apartments. Of these units, 39 are set aside as “very low” (at or below 50 percent of area median income) affordable residential units.
The site features a number of unique and engaging amenities, including edible landscaping, community gardens, trails, a bocce court, social spaces, a community library, and a community recreation center. The project will also include a shared public/private agricultural amenity area including a farm-to-table restaurant, farm stand, event lawns, discovery garden, greenhouse and community work area, and an outdoor education patio. The northern portion of the project site will remain in agricultural use, serving as an organic farm operation.
More review of the latest developments in Leucadia as I cruise by the next Toll Brothers community and take a look at what the planning commission just approved:
The 3.79-acre project site, which is just south of the Alila Marea hotel on N. Coast Highway, is proposed to contain 94 apartments, of which 19 will be set aside for low-income people. There’s also a 34-unit hotel that will be connected via bridge to the existing resort. Some of the apartments will be built over a parking structure, others will be above commercial space. The commercial areas could contain everything from an ice cream shop to high-end restaurants.
Kelly has done a masterful job getting mass exposure coast-to-coast, and here’s Architectural Digest’s tour. Just don’t read the YouTube comments:
With the Crescent House now on the market for $23.5 million, you can’t really blame the sellers of this property for asking $6 million (lot size is 9,730sf):
Congratulations to Kelly and team for their new listing of this iconic 6,329sf masterpiece on the bluff by Wallace Cunningham – the same architect who designed the Razor House in La Jolla (that Alicia bought):
This sold for $6,000,000 cash (5% over list) and 7-day escrow:
Some homes are selling for less than their list price!
The original list price was $4,925,000 and this just closed for $4,226,625 for 6 br/6.5 ba, 6,031sf on a 37,026sf lot. Buyer had a license so they discounted the price instead of taking the commission:
This just closed for $4,648,000 cash, which is a lot of money for the neighborhood………but this is a very unique modern contemporary:
The developer paid $4,900,000 cash for this site in 2020, so he must have had some assurance from the Encinitas City Council/Planning Commission that he could build his 72-unit apartment house here.
It appears that expanding La Costa Avenue to four lanes will be required – though there aren’t plans or money to do so – yet the Encinitas City Council approved the development:
The site of the project is 1967 N. Vulcan Avenue in the northernmost part of Leucadia near La Costa Avenue. The intersection of Vulcan and La Costa is a major concern to residents who oppose the development.
Wermers said the updated project plans now include changes to Vulcan Avenue that are meant to make the area safer for pedestrians and bicyclists.
“When we do this it also promotes vehicle safety,” Wermers said.
Wermers also made a commitment to pay his company’s fair share in whatever changes the city decides to make at the Vulcan and La Costa intersection.
“Whatever you guys decide, we want to pay our fair share,” Wermers added.
There was more support for the newly redesigned project, some pointing to the need for low-income housing in the area and the project will boast 12 units designated as low-income.
“We need more roofs over our heads. This housing project is the perfect one to bookend Vulcan Avenue and Leucadia,” resident Kevin Daniels said. “I can’t express this enough, this project is a perfect fit.”