CORONA DEL MAR, CA-The California Coastal Commission has given final approvals for the construction of Aerie, a development of seven luxury multi-million-dollar homes here. The project, including its docks, was unanimously approved, so developer Advanced Real Estate Services Inc. can move forward with construction.
The Aerie homes will sit on a pinnacle above Newport Harbor. Residents will enjoy a private beach, private boat docks and walking access into the Village of Corona Del Mar. Each home will enjoy panoramic views of Newport Harbor, Catalina Island, Palos Verdes Peninsula and the Pacific Ocean. This combination of amenities and views is not available anywhere on the coast.
Aerie's location at the entrance to the harbor provides clear water for swimming and recreation as well as immediate access for boaters. The private docks can berth yachts from 30 to 100 feet in length. The site is also close to high-end shopping and dining at Fashion Island, which is a short walk away.
The project is the work of Richard Julian and Advanced Real Estate Services Inc., who devoted 10 years of effort toward creating an enclave of seven exclusive homes. Architect Brion Jeannette, who has designed world-famous homes including the Portabello Estate, Gucci Estate and the Laguna Beach Rock House, considers Aerie one of his “finest accomplishments,” according to the real estate firm.
Construction is planned to begin in early fall, and while prices on the homes have not yet been announced, comparable sales in the area have topped $3,000 per square foot. The units average approximately 3,000 to 6,500 square feet each.
As GlobeSt.com previously reported, in January 2012 Advanced Real Estate Services represented seller Straub Distribution Co. in an owner-occupant sale of a 60,000-square-foot industrial building in Tustin, CA, to H2 Chambers LLC for $7 million. The buyer was represented by Vince Kagawan of Pinnacle Real Estate.
Read our update to this morning's story to find out the reported price range for Aerie homes.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
