SANTA BARBARA, CA—GlobeSt.com has exclusively learned that the Housing Authority of the City of Santa Barbara has purchased a 1.76-acre site from a car dealership. The sole purpose of the purchase is to build affordable senior housing.
Stephen Leider and Clarice Clarke, both with the Santa Barbara office of Lee & Associates, represented the buyer and seller in the $2.25-million transaction at 251 South Hope Ave.
Leider tells GlobeSt.com that in the 1980s, the land was being marketed as an auto park, however, the remaining parcel, this land, was too small for auto-dealer consideration, so the lot was unusable.
“It was determined that the only alternative for this land was housing,” he says. “After some attempts by the multifamily brokers to get it through the city, it stalled.”
But now, he says, the housing authority pushed it through, with the deal closing in 35 days. “Because this is one of the last vacant land lots in this area that permits ground up development,” Leider explains.
“The plans are to build senior affordable housing for those who qualify in the Santa Barbara area.” According to Leider, Santa Barbara is virtually built out with no vacant land available within the city limits.
Leider tells GlobeSt.com that the housing will consist of 90 studio units with an expected groundbreaking of 2015.
Leider did not have a cost of the project or who will be developing it, but we will update this story as we learn more.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
