$ 1,400,000
-
$1,400,000
Price -
0
Bed -
0
Bath -
0
SqFt
NEW! Buy and sell safely with virtual options - Learn More
About the Listing PI6328 - PI01334694
Major Price Reduction! SUMMARY This property offers a developer the chance to acquire a well-defined project with significant, pre-negotiated fee waivers and a resolved airport land use conflict. While it requires re-entitlement, the extensive project history and existing agreements provide a clear and de-risked roadmap for bringing 32 new homes to the attractive Orcutt market. KEY FINANCIAL ADVANTAGES & REDUCED FEES • No School Fees for OUSD: A recorded settlement agreement with the Orcutt Union School District means a future developer will not have to pay school impact fees to the OUSD. This represents a considerable savings, as the current OUSD residential development fee is $3.69 per square foot as of June 2024, a potential savings of $160,000. • No Quimby/Park Fees: A settlement with Santa Barbara County states that Quimby/Park fees, currently $5,344 per single-family dwelling, will not be required as the map has already been recorded. This amounts to a potential savings of over $171,000. • No Affordable Housing In-Lieu Fees: The same settlement agreement with the county determined that no affordable housing mitigation would be required for the project, representing another significant potential cost reduction. • HOA Agreement in Place: A mediated settlement with the Northpoint Homeowner's Association (HOA) clarifies that this phase is not required to join the existing HOA but will contribute to shared road and drainage basin maintenance. This agreement provides a clear framework for managing shared infrastructure costs and mitigates potential disputes with the existing association. DEVELOPMENT & ENTITLEMENT STATUS • Expired but Clear Path Forward: While the previous Development Plan for the 32 units expired in 2018, the path to re-entitle the project is straightforward. The buyer will need to undergo a new Development Plan application consistent with the prior approvals. • Favorable Airport Safety Zone Update: A 2023 revision to the Airport Land Use Compatibility Plan (ALUCP) has removed a "no build corridor" that previously conflicted with 15 of the lots, eliminating a significant past obstacle to development. Streamlining Potential: The site may qualify for the permit streamlining provisions of SB 35, as it is in an urban area with 75% of its perimeter already developed.
Listing Highlights
Status
Active
Days on Site
76
Property Type
Vacant Land
MLS ®
PI26059582
Year Built
Total Square Footage
0
Lot/Acreage
3.99
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: See Remarks
Exterior Details
- Lot Description: 6-10 Units/Acre,No Land Lease
- Garage Capacity: N/A
- Zoning: DR-3.3
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 107560033
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
0 Northpoint Circle Santa Maria, CA 93455
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
