1609-1615 Grand Avenue are 2 adjacent parcels in Santa Barbara’s Lower Riviera neighborhood.? They represent a unique opportunity to build up to 4 new ocean and city view homes in one of Santa Barbara’s best residential areas.? Opportunities to develop multiple-home groupings in mature and valued neighborhoods of Santa Barbara are very rare.?
The parcels are each zoned R-2, allowing 2 homes per parcel, or the possibility of a new 4-home subdivision across the 2 lots.? The lots are gently sloping with approx.? 10%-15% slope.? Historically 2 older homes existed at the top of the parcels, they were taken down about 50 years ago.? There is a 28’ wide easement across the bottom of the neighboring property on the corner with California Street, which allows easy access to 2 lower homes, as shown in the layout examples in the Offering Memorandum.? There is a possibility of additional development benefit of up to 3 Accessory Dwelling Units (ADU's) per recent California changes in ADU laws, consult a land--use planner to verify this potential.? Please review the information in this listing as a starting point, but a serious buyer is advised to consult a land-use planner and architect with experience in development in the City of Santa Barbara.?
HIGHLIGHTS OF A CONCEPTUAL PLAN EXAMPLE:
?** This concept is suggested as an example to maximize profit for a developer. An owner-occupant builder or a “hybrid” buyer might consider other configurations or densities.
?** The layout of the homes attempts to conform with City of Santa Barbara zoning and land-use rules, but Buyer is advised to confirm with consultants to their satisfaction.
?** The architecture and street profile are designed to minimize neighbor objections.
?** The layout allows for 4 detached homes with private yard space, all achieving ocean/city views.
** ?The upper 2 homes have private driveways off Grand Avenue, the lower 2 homes share driveway over easement accessed from California Street.
** ?All 4 floorplans have all of the primary use areas on a single level – kitchen, dining, living room, master suite and ocean-view decks.
** ?The upper 2 homes achieve the single-level primary use areas on the entry level with attached garage. The lower 2 homes have the primary use areas above the garage level but with elevator.
?** If Accessory Dwelling Units (ADU's) are allowed as additional development benefit, the concept layout in the attached Offering Memorandum would be modified, and the pro-forma financials would be improved further
** ?New construction in a premiere view neighborhood of Santa Barbara is essentially non-existent; top-dollar out-of-area buyers (the demographic for high-end Santa Barbara), will pay a super-premium for new construction in a plus-plus location
