 |
| 5 bedrooms, 4.5 baths, 4,300 sq ft, 2.8 acre lot, yours for $5,195,000, with all the conveniences of living in the country |
.... "Last week, construction on the new roads and utility infrastructure began right above Roberts Road. That process is expected to last about six months, Cowan said. "After eight grueling years, it's an exciting time," Cowan said. "There are people looking at purchasing homes up there. It's an exciting time for Pacifica to see a project that is actually moving. I think this is a sign that our town is moving in the right direction. Smart growth. It's a good sign of our town evolving," Cowan said." Read more.
Reference - Harmony At One: Ocean View Homes, a Sonora Shores Development, Coldwell Banker Residential Brokerage. Planning Commission meeting, 7/21/14, Fix Pacifica reprint. City of Pacifica, Harmony @ 1 documents.
Photograph - view from the hill from Zillow, Harmony @1, lot #8, single family, 2.8 acres, for sale $5,195,000.
Posted by Kathy Meeh
17 comments:
wow. new streets. without potholes. what's that like?
When does construction begin? Any sold yet?
These could be primarily settled by the fleeing Chinese . They have the money and the desire to settle on West Coast.
paying $40,000 in property taxes. Take the money!! (more than bray for sure!)
According to the website, they are planning for 10 homes. Each at an average price of $4.5 million, Pacifica is looking at potential annual tax revenue of:
(($4,500,000 x 1.25)/100) x 10) = $562,500
More importantly, it could encourage higher home values and sales in Rockaway Beach and Pedro Point areas which have similar views (though not the lot sizes) which then can contribute to higher tax revenues. But this is all contingent on market financing to buy homes and/or general available of liquidity.
There are a class of international investors who are looking to move their cash to safe havens. Pacifica looks good (for now). But a lot has to change before Pacifica can become something of Santa Cruz or similar.
I expect new Chinese and Russians immigrants in the Area.
Yeah, "...all the conveniences of living in the country." Doubt they'll find anything to spend their money on in this town beyond the country house and the occasional tank of gas for the country car. LandRover, Escalade or a Benz? Maybe one of each.
Hey, we've got trails. Oh, they've got their own trails.
Anonymous on September 7, 1:20pm said,
"Yeah, "...all the conveniences of living in the country." Doubt they'll find anything to spend their money on in this town beyond the country house and the occasional tank of gas for the country car. LandRover, Escalade or a Benz? Maybe one of each."
Gas revenue is great. And maybe you haven't noticed that there are some very active new restaurants in town. Things need to start somewhere. What owners of these homes likely wouldn't do is shop in an outlet mall.
301 You're right they might hit a local place once in a while, but most of the time they'll use their lovely state-of-the-art! kitchens or dine in the city where the really good food is. Eating out local will most often mean HMB. It's got the charm and quaintness Pacifica doesn't. Not that we couldn't develop it, we just haven't. Don't be dissin' my premium outlet mall, bitter clueless one. The crowd with money loves their premium outlet malls. Go check one out and see who shops all day and what they're driving. Welcome, rich people, to your little enclave in Pacifica. Consume conspicuously.
Sounds ridiculous considering the price points, but was there a low-income set aside in this project? Or more likely payment in lieu of it? How much in a project of 4 and 5 million dollar homes? Seems like a Tom Clifford question.
1:15, property taxes are paid to the county. About 12% is disbursed back to the cities. Adjust your math accordingly...
Whew 815. Thanks. I'm sure glad I didn't spend that half-mil already, although doing so would have qualified me instantly for the Pacifica City Council.
I'm gonna play Lotto!
306 You live in Pacifica. You're already playing Lotto. Losing streak never ends.
I feel better. Read an exchange on Riptide (Tom Clifford and others) that the city agreed to accept a whopping $350,000 from the Harmony developer in-lieu of designating 2 units (selling for 4 to 5 million each) as moderate income housing. Not enough for someone to buy even a small condo in Pacifica. Wonder where the money went? Nobody negotiates quite like the City of Pacifica.
Consent agenda. This cheap-ass in-lieu fee for inclusionary housing which the city negotiated was also a consent agenda item. $350K on a 50 million dollar development. Yeah, I'd want to keep that quiet, too.
Do I really want to spend 5 big to live near the get right with Jesus sign?
Post a Comment