In our first bi-weekly edition of the North San Diego County Real Estate Update, we wanted to compile a summary of a few recent stories that may be of special interest to our readers. Moving forward, we plan to publish an update every few weeks to note stories that may affect the commercial real estate and residential real estate markets in Northern San Diego County.
New Development in Carlsbad Village
The City of Carlsbad is experiencing a new wave of real estate development in its beloved Carlsbad Village area. Specifically, Carlsbad Village is seeing an influx of multi-story and mixed-use projects, which are authorized under the Village Master Plan approved over twenty years ago. The City’s senior planner says that because of the new development, “[p]eople will see a mix of style, and hopefully over time [the village] will be an area that’s much more pleasant to walk in, shop, visit, work, all of those things.”
Del Mar Moratorium on Short-Term Rentals
On Monday, April 4, the Del Mar City Council approved a temporary moratorium on short-term vacation rentals. As a result, current rentals will be allowed to continue to operate, but no new ones will be approved. This action by the City of Del Mar is not surprising as other local jurisdictions, including the City of Carlsbad, have been struggling to find a resolution to this evolving issue.
City of Carlsbad Seeks Input on Beach Access Design
The City of Carlsbad is requesting public input on the updated design of beach entrance signage. A parks superintendent for the city stated that “[i]n addition to a much-needed rehab of rusted railings and cracked concrete, this project will make the entrances more inviting and functional.” The public will be able to voice their opinions via an online survey or a community meeting to be held on April 19 from 6pm to 7:30pm at the Carlsbad Senior Center.
Entity Owned by Founder of Krikorian Premiere Theatres Acquires Two Buildings in Solana Beach
A buyer, Showprop Monrovia LLC, whose members are George Krikorian, Freeway Crossing LLC , and Krikorian Premiere Theatres (both of which are controlled by Krikorian) recently acquired two medical office buildings in Solana Beach. Quashing any rumors, Krikorian recently stated that “[t]he Solana Breach medical complex was purchased by one of my LLC’s and has nothing to do with the theatre business.”
Ariel Bedell is a Shareholder at The Loftin Firm. For questions relating to any other California real estate, corporate governance, land use, or estate planning matter, contact Ms. Bedell at 760-814-9649.