DANA POINT, CA—Zephyr has spent $50 million to acquired a nine-acre parcel here, and says it plans to develop a mixed-use community on the property.
Previously the site of a mobile home park, the fully entitled parcel at 34202 Del Obispo Street, was acquired from AG/A&M Doheny, LLC.
According to Zephyr co-CEO Brad Termini, the project will include 168 high-end townhomes and seven mixed-use structures situated in one of the most coveted areas of Orange County, adjacent to Doheny State Beach and Dana Point Harbor. The site is walkable to the beach and harbor, with golf, shopping and dining options minutes away.
The development of the community the first product of its kind to be built in the region in more than 10 years will accelerate a revitalization that is already well underway in Dana Point, he said. With the revamp of Dana Point Harbor, downtown and other major renovations in the area, we knew this was an ideal location for our project and are confident it will bring new energy and economic opportunities to the region.
Construction on the project is slated to begin next year and conclude in 2019.
The homes, situated in three distinct neighborhoods, will range from 724 to 1,900 square feet and include approximately 2,471 square feet of live/work space. Many will feature rooftop decks and ocean views, in addition to large, private balconies, patios and an Idea Space on the ground level that can be used for a selection of recreational uses.
Founded in 2008, Zephyr is a San Diego-based real estate development and investment company specializing homes, condominiums and luxury apartments. The company, co-founded by Termini and Dane Chapin, has successfully completed and sold developments throughout San Diego County. Currently, Zephyr manages projects in Carlsbad, Encinitas, San Diego, Coronado, Del Mar, Rancho Santa Fe, Fallbrook and Escondido.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
