1317 Punta Gorda St. is an excellent and rare ''Shovel-Ready'' development opportunity located in an up-and-coming neighborhood within Santa Barbara. All entitlements and soft costs have been completed and paid for by current ownership and will be delivered at COE. The parcel of land, a +/-.55 acre lot, is situated within the average unit density program (AUD), medium-high density overlay, granting a development potential of 15 - 27 units per acre. Recently, the City of Santa Barbara has discussed that it wants to discontinue the AUD program within the neighboring area, making this approved project potentially insulated from competing developments. Newly constructed buildings are not subject to AB1482 rent restrictions. Time to completion of the project is expected to be 18 months.
Courtesy of: Radius Group Commercial R.E. Listing information provided courtesy of the Santa Barbara MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable, but is not guaranteed accurate by the MLS. Updated: 30th November, 2022 6:23 AM (UTC)
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