The land was purchased directly from the lender. It is currently being held unlevered and undergoing an entitlement process based on a more economic development plan.
Pismo Beach, California
Raw land is in the process of being entitled to accommodate 452 residential lots with a golf course, boutique hotel, and commercial component.
This low-density community will be oriented to ocean views and a new golf course. Amenities will include: vineyards dispersed throughout the site, a boutique hotel with conference facilities, equestrian, pedestrian and bicycle trails, and a public park. The residential component of the project will consist of various types of lots ranging in size from approximately 10,000 square feet up to over 5 acres.