eal `Multifamily Coastal Project La Jolla
Our project team was interested in a coastal project, and we considered the Red Roster Cottages at La Jolla Cove, Naval and Parking Lot Properties South of the Embarcadero, and a new development proposal at Windansea in La Jolla. The group was interested in the La Jolla Properties, and Gary Geiler, Senior City Planner, recommended the Windansea, La Jolla Project. This project was listed with Matt Weaver and Patrick Miller of Lee & Associates, and Suzanne Giannella of Pacific Sotheby's. The Architectural Design is rendered by Claude Anthony Marengo of Marengo Morton Architects in La Jolla. Jeff Daley of JR Daley Construction a seasoned developer with over 3000 units estimated the construction costs. This project was on the market since April 13, 2012. Harry Miller, a California Real Estate Broker, on our team had contacted Matt Weaver early on in an attempt to market this package in Southern California. The project has been approved by the San Diego City Planning Commission; however, recently a developer has come and put in an offer with a million dollars down that went hard in escrow while we were working on this project. This developer is of reputation in the area and has his own architect he wants to use for this project. Our team will continue with the original project as a learning exercise with the intent to make the world a better place than when we found it.
This project is very special for a number of reasons. Number one it is adjacent to one of the best world class surfing locations in all of California, Windansea Beach La Jolla. The properties in this location rarely ever go on sale and stay within the family as a treasure for generations. There is the famous Windansea Surf Shack that it across from the famous break and is a wonderful location to see the excellent surfing in unparalleled quite enjoyment.