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Plus: Gallery coming to Coast Village Road; smart Covid-19 update from Sansum Clinic’s CEO; more on Porch’s moving sale; traffic breaks on the 101 in Montecito; Hot Springs fixer now available for rent; Ojai house with its own baseball field.
The week before last, hardly anything closed, and I started to wonder whether the hot market was cooling down. Last week, however, it roared back to life. Here are the 12 closings of note.
Other recent news: Rumored layoffs at the Biltmore; 16,000-square-foot mixed-use development opens soon in Paso Robles; progress in farming shellfish off Ventura; a push for manufactured fish reefs off Goleta.
They’re dropping from eight figures to seven. The week’s other top adjustments: Two Montecito properties around $5 million have raised their prices; spec renovation inching toward reality.
More food news: Mesa Burger’s Coast Village Road outpost has opened; a second Sweet Wheel Farms farmstand; $2 afternoon cold brews at Low Pigeon; your best cheese bet now that C’est Cheese is gone; Coffee Bean & Tea Leaf on De La Vina has closed; will Magic Castle Cabaret reappear?
The Siteline newsletter is the best way to follow the website. To subscribe, click the link at the bottom of this post. And you can unsubscribe at any time.
Other recent news: An apparent “Karen” moment in the Gelson’s parking lot; interview with the director of “Palm Springs”; interim community development director chosen; Habitat for Humanity’s store is closing; Dara Road development debate.
Plus: The Miniso store on State Street is closed; Giannetti Home is leaving its pretty downtown location; police detain man who fell asleep in his car while holding a gun; Santa Barbara Historical Museum will reopen as an outdoor museum.
Other noteworthy new listings: Another massive Mediterranean mansion in Montecito; teardown next to the Pepper Hill lair-in-progress; Hope Ranch compound with putting green; move-in-ready in Summerland; on the seventh fairway in Birnam Wood; new-build near the San Marcos Preserve; contemporary design in the Sea Meadow enclave.
Burning Questions
- Why Are the Railroad Tracks Being Expanded Along Padaro Lane?
- Will You Explain the Plan to Adapt the Waterfront for Climate Change?
- Why Did the Rosewood Miramar Beach Install Gates?
- How Long Will This Big Pipe Be at East Beach?
- Is Cabrillo Boulevard Going to Be Widened Under Highway 101?
- Was There a Fisherman Inn in Downtown Santa Barbara?
- What Are Those Old Buildings at the Corner of Castillo and Montecito Streets?
Recent Comments
John: I think we should keep in mind that Yardi is a software company that sells software *and data* for *real estate property management*. The… — SBradley
Though Yardi is a commercial software developer, real development is much riskier. That business has moats, history, customer lock in and competitive advantages. Redevelopment and… — John
You should remember that where you're sitting right now used to be a tree, a field, or open land at some point. You benefit every… — Tony Machado
It is kind of complex to tease out who bears the risks and benefits in these projects that have public and private parties involved. I… — SBradley
Very interesting. If Yardi is paying anywhere near $120M + $35M + $5.7M for almost 250k empty square feet, this is going to take a… — NuemanJ
I think some folks who would consider this is a windfall for Yardi may be overlooking two things: 1)The cost to Yardi to buyout AB's… — StanThompson
Just realizing I did not address your first point. The buildings on the property have been up for sale, and their value is also depressed… — SBradley
I think that the city's representation of this land as having ‘zero value’ is confusing because it sums together the value of 2 distinct things… — SBradley
No idea whether this is a good deal for Yardi or not. Paseo Nuevo has been available for sale since 2020 with no buyers -… — NuemanJ
I wish this same logic worked for Thrifty ice cream! According to the BLS inflation calculator, something that cost 5 cents in 1970 should cost… — Doug B