EXCLUSIVE
Ty Warner is building a huge botanical garden at the San Ysidro Ranch: the land is newly fenced and being cleared of everything except the trees that survived the Thomas Fire.
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JUST LISTED
New to market this week: The most expensive new listing we’ve seen in a long time—a 28-acre Montecito compound with a lot of interior design; a Coast Village classic ready for its next chapter (above); renovated midcentury in Hope Ranch; a bunch of San Roque houses; and more.
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NEWS ROUNDUP
••• Former hostel to become housing for the homeless.
••• RV rammed into a downtown parklet.
••• Isla Vista beach bluff collapse.
••• Dredging underway of Santa Barbara Harbor.
••• 3,000 acres of Santa Ynez Valley trails now open to hikers.
••• New home store in Santa Ynez.
→ Read the post.
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BURNING QUESTIONS
“Will the Dorinda Triangle ever get beautified? I thought that since it’s an entrance to Montecito, the county’s Public Works Department might give it some priority. Instead, it has been used as a parking lot for heavy equipment.” —L. Here’s the answer.
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NEWS ROUNDUP
••• What to expect in the orange tier, which we should enter on Tuesday.
••• The Cold Spring School saga turns uglier.
••• El Capitán State Beach will close for a year starting in the fall.
••• Santa Barbara–based Evidation Health is a unicorn.
••• Carp-based cannabis company sold for $567 million.
••• Cannabis farming mulled for the parched Cuyama Valley.
••• Ventura might close parts of its Main Street for good.
••• Library plaza to be named after late philanthropist.
→ Read the post.
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HOT PROPERTY
The week’s notable sales: a double-wide Miramar Beach house for $16 million, a 1902 compound on Riven Rock Road, Hope Ranch house that closed in three days, Hedgerow four-bedroom that went for $300,000 over ask, French Provincial in Birnam Wood, and more. See what sold and for how much.
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Recent Comments
I appreciate your earnestness and tenacity and desire for process. I share it. But after 10 years of a huge vacancy, a dying mall, and… — John
Don’t ignore the opportunity costs of looking for other deals. Not only do you risk losing this deal, there’s no guarantee another deal would be… — LD
Exactly, Christian. Very well said. This project is needed, right now. — Gail
This modest project— the addition of one mile of siding— has the potential to greatly improve the reliability of the Surfliner, and make it more… — Gail
Bottom line: there is an established process for these types of transactions that is designed to make sure the community residents get the best deal… — SBradley
I think development is just such a different animal. I've worked a little bit with very experienced developers. People who ONLY do RE development. They… — John
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