Saturday, April 17, 2010
Rancho Tyvek Estates
The bankrupt Barratt American development in northern Leucadia. Still looks pretty much the same as it did a year and a half ago, though the Tyvek's not as shiny and bright any more.
This is also the place where somebody paid $810,000 for a house that can't be lived in. The city withheld the certificate of occupancy until the builder built a low-income housing unit, and the builder never did.
The September 2008 Voice of San Diego article calls the neighboring first phase "$2 million luxury homes." I'd be really surprised if the new houses go for more than the low $1m range if they're ever finished. The only recent sale in that price range and area is 442 Hillcrest at $1.65m, and it's a nice big new house on a big lot with great ocean views. I don't think anything in Rancho Tyvek will have much of an ocean view.