San Diego Daily Transcript:
A fully entitled, 1.08-acre parcel of land on N. Vulcan Ave., in Encinitas 92024, has been sold for $2.3 million. The buyer was homebuilder Shea Homes, which plans to construct 20 flats of multifamily housing on the entitled property.
It looks like the sellers are people from Solana Beach who have been trying to build there since 2002 but finally gave up. They got a density bonus somehow to put 20 units on 1.08 acres. Hope you like your neighbors.