APPROVED 9 LOT TENTATIVE TRACT MAP - NEAR FINAL MAP

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Virginia Pope
6 years ago
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Rare Development Opportunity in Carlsbad, West of El Camino

at Closing Surrounded by 12 Acres of Open Space 8,002-11,173 SF

ASKING PRICE: $2,495,000 Agua Hedionda Lagoon Cannon Rd Kelly

1 Rare Development Opportunity in Carlsbad, West of El Camino Real Owner Will Deliver Property with Final Map Ready to Record at Closing Surrounded by 12 Acres of Open Space 8,002-11,173 SF Lot Sizes Area of New Home Prices From $800,000-$1,500,000+ ASKING PRICE: $2,495,000 Agua Hedionda Lagoon Cannon Rd Kelly Elementary School Kelly Dr SUBJECT PROPERTY Tamarack Ave El Camino Real

HOME INFO 18 COMPARABLE HOME SALES SUBJECT PROPERTY No warranty or representation is made to the accuracy of the

2 PAGE CONTENT 3 SITE PLAN 4 AERIALS 7 LOCATION MAP 8 PROPERTY INFO 9 DOCUMENT LINKS 10 UNIT MIX 11 IMPACT FEES 12 BOND COST ESTIMATES 13 TENTATIVE TRACT MAP 14 CONCEPTUAL ELEVATIONS 15 FLOOR PLANS 16 PARCEL MAP 17 AREA NEW HOME INFO 18 COMPARABLE HOME SALES SUBJECT PROPERTY No warranty or representation is made to the accuracy of the foregoing information. Terms of sale, lease and availability are subject to change or withdrawal without notice. 2

3 SITE PLAN 3

4 AERIALS Tamarack Ave SUBJECT PROPERTY Kelly Dr 4

5 AERIALS Tamarack Ave El Camino Real SUBJECT PROPERTY Kelly Dr 5

6 AERIALS Carlsbad Premium Outlets Tamarack Ave Valley Middle School Carlsbad High School Agua Hedionda Lagoon Kelly Elementary School SUBJECT PROPERTY El Camino Real 6

7 LOCATION MAP CAMP PENDLETON VISTA FALLBROOK PALOMAR MOUNTAIN OCEANSIDE CARLSBAD SUBJECT PROPERTY SAN MARCOS ENCINITAS PALOMAR AIRPORT CAL STATE SAN MARCOS ESCONDIDO EL CAMINO REAL TAMARACK AVE SOLANA BEACH N DEL MAR POWAY SUBJECT PROPERTY CANNON RD 7

PROPERTY INFO Location: Jurisdiction: City of Carlsbad APN #: 207-100-48 Acreage: Topography: Zoning: General Plan: Average Unit Size: Project Status: Improvement Costs: Impact Fees: Located on Aura

upscale grocery, restaurants, and shopping.

8 PROPERTY INFO Location: Jurisdiction: City of Carlsbad APN #: Acreage: Topography: Zoning: General Plan: Average Unit Size: Project Status: Improvement Costs: Impact Fees: Located on Aura Circle in the desirable Carlsbad area, the property features expansive surrounding open space while maintaining immediate proximity to high end commercial and retail developments that include: upscale grocery, restaurants, and shopping. Approximately 2 1/4 miles south of Highway 78 and 1 1/4 miles east of Interstate 5, this site will provide commuters with quick, convenient access and a short drive to all of San Diego, Orange & Riverside Counties Acres Moderate Slope R (Single Family Residential) OS (Open Space) RLM (Residential Low Medium Density) OS (Open Space) 3,686 SF On May 2, 2007 the Carlsbad Planning Commission voted 6-0 to approve the Aura Circle 9 lot residential subdivision project in Planning Commission Resolutions #6285, 6286, 6287, 6288, 6289, 6290, 6291, 9292 & 6293 which includes a Mitigated Negative Declaration and Mitigation Monitoring & Reporting Program, General Plan Amendment (GPA 05-06), Zoning Change (ZC 05-03), Local Coastal Program Amendment (LCPA 05-03), Habitat Management Plan Permit (HMP 06-12), Tentative Tract Map (CT 03-10), Site Development Plan (SDP 05-05), Hillside Development Permit (HDP 03-05), and Coastal Development Permit (CDP 03-32). On May 2, 2016, the owner received a 2 year extension of time on the tentative map until May 2, 2018, all other Planning Commission approvals are current, and the owner is currently processing the Final Map which is near completion. The property owner will deliver the Final Map ready to record at closing. Approximately $227,388 per lot (Total $2,046,491 based on bond estimates) Approximately $50,916 per lot (Can be potentially reduced to $42,252 per lot with CFD) Affordable Housing: HOA: School District: SUBJECT PROPERTY 2 - Lot 7 & 9 Second Dwelling Unit (Click here for Inclusionary & 2nd Dwelling Unit Info) TBD Carlsbad Unified School District Kelly Elementary API Valley Middle School API Carlsbad High School API Services: Water/Sewer City of Carlsbad Gas/Electricity SDG&E Fire Carlsbad Fire Dept. Police Carlsbad Police Dept. Asking Price: $2,495,000 8

9 DOCUMENT LINKS AERIAL SITE PLAN ARCHITECTURAL PLANS CLICK TO VIEW DOCUMENT LINKS GRADING PLAN HYDROLOGY & STORM WATER CITY OF CARLSBAD PERMITS & APPROVALS COST ESTIMATES ENVIRONMENTAL FINAL MAP CHECK FINAL MAP (REVISED) GENERAL PLAN - LANDSCAPE USE ELEMENT GEOTECHNICAL GRADING BOND ESTIMATE IMPROVEMENT BOND ESTIMATE IMPROVEMENT PLAN LANDSCAPING & RESTORATION PLANS PERMITS & MAP EXTENSION PRELIMINARY TITLE REPORT TENTATIVE TRACT MAP TENTATIVE TRACT MAP EXTENSION ZONING CODE - R-1 9

10 UNIT MIX Plan Type Lot # Units 1st Floor Sq Ft 2nd Floor Sq Ft Livable Sq Ft / Unit Total Livable Sq Ft Garage Sq Ft Total Buildable Sq Ft 1 4, ,066 6, , ,6, ,672 11, ,368 *2 TBD 2,6, , ,3, ,980 11, ,908 3X ,090 4, ,746 Total 9 3,686 33,178 34,822 10

11 Aura Circle, Carlsbad, CA Estimated Development Fees Average Home Size 3,496 SF IMPACT FEES OUTSIDE CFD Item Quantity Unit Price Amount School Fees - Carlsbad (3,496 $3.36/SF) 9.00 Each $ 11,747 $ 105,719 Parks (Assumes District 1 NW) 9.00 Each $ 7,649 $ 68,841 Traffic (Outside CFD) 9.00 Each $ 3,160 $ 28,440 Public Facilites (3.5% of value - Outside CFD)* 9.00 Each $ 17,072 $ 153,645 Drainage (Assumes Area B - Low Runoff) 2.66 Acres $ 2,321 $ 6,176 Sewer Connection 9.00 Each $ 881 $ 7,929 Water Connection 9.00 Each $ 8,852 $ 79,668 Habitat Management Permit 1.00 Each $ 518 $ 518 Habitat Management Fee 2.66 Acres $ 2,746 $ 7,307 TOTAL DEVELOPMENT FEES $ 458,243 TOTAL DEVELOPMENT FEES PER LOT $ 50,916 INSIDE CFD Item Quantity Unit Price Amount School Fees - Carlsbad (3,496 $3.36/SF) 9.00 Each $ 11, $ 105,719 Parks (Assumes District 1 NW) 9.00 Each $ 7, $ 68,841 Traffic (Inside CFD) 9.00 Each $ 2, $ 24,210 Public Facilites (1.82% of value - Inside CFD)* 9.00 Each $ 8, $ 79,895 Drainage (assumes Area B - Low Runoff) 2.66 Acres $ 2, $ 6,176 Sewer Connection 9.00 Each $ $ 7,929 Water Connection 9.00 Each $ 8, $ 79,668 Habitat Management Permit 1.00 Each $ $ 518 Habitat Management Fee 2.66 Acres $ 2, $ 7,307 TOTAL DEVELOPMENT FEES $ 380,264 TOTAL DEVELOPMENT FEES PER LOT $ 42,252 Notes: * Public Facilities based on 3,496 SF homes at $139.52/SF * Habitat Management & Drainage Fees assume acreage on buildable, not deeded Open Space 11

12 BOND COST ESTIMATES Grading and Erosion Bond Cost Estimate for AURA CIRCLE CT DWG NO A Description Unit Quantity Unit Price Amount Earthwork Cut/Fill (0-1,000 CY) CY - $ $ - Cut/Fill (1,001-20,000 CY) CY - $ $ - Cut/Fill >20,000 CY) CY 104,249 $ $ 1,091, Remedial Grading (Overexcavation & Alluvial) CY 37,638 $ $ 394, Export Cut (0-1,000 CY) CY - $ $ - Cut (1,001-20,000 CY) CY - $ $ - Cut (20, ,000 CY) CY 31,636 $ $ 840, Drainage Structures 18" RCP Storm Drain Pipe LF 79 $ $ 9, Type F Inlet (Modified D-7) EA 1 $ 5, $ 5, Type F Inlet EA 2 $ 5, $ 11, Wing Headwall (D-34) EA 1 $ 6, $ 6, Concrete Brow Ditch (D-75) Type B LF 1,642 $ $ 39, Concrete Brow Ditch (D-75) Type D LF 1,209 $ $ 29, " Private Drain LF 275 $ $ 13, Sidewalk Underdrain Type A (D-25) EA 1 $ 4, $ 4, Retaining Wall SF 6,032 $ $ 228, Riprap, Placed (D-40) EA 1 $ 3, $ 3, Sewer Adjust Sewer Manhole to Grade EA 3 $ $ 1, Subtotal Cost of Project $ 2,679, Contingincies (15%) $ 401, Total Cost of Project $ 3,081, Improvement Bond Cost Estimate for AURA CIRCLE CT DWG NO Description Unit Quantity Unit Price Amount Drainage Structures 18" RCP Storm Drain Pipe LF 309 $ $ 38, Type B5 Cleanout EA 2 $ 7, $ 14, ' B-Inlet EA 2 $ 6, $ 12, Type-F Catch Basin EA 1 $ 5, $ 5, Connect to Existing EA 1 $ $ Street Improvements Sawcut AC pavement LF 33 $ 5.12 $ A.C. Pavement 4 " Thick SF 18,809 $ 2.94 $ 55, Aggregate Base 6 " Thick SF 25,426 $ 1.68 $ 42, Removal of A.C. Pavement SF 1,744 $ 3.36 $ 5, Removal of Curb and Gutter LF 58 $ 3.30 $ Removal of Sidewalk SF 145 $ 2.01 $ Removal of BARRICADE EA 1 $ $ " Curb and Gutter LF 1,018 $ $ 22, Concrete Sidewalk 0-5,000 SF SF 5,090 $ 8.00 $ 40, " Concrete Driveway SF 1,080 $ $ 12, Street Light SDE-101 EA 2 $ 7, $ 14, W14-1 Sign EA 1 $ $ Survey Monuments Street Monuments (M-10) EA 5 $ 1, $ 5, Water 8" PVC Pipe LF 495 $ $ 36, Fire Hydrant EA 1 $ 5, $ 5, Relocate Fire Hydrant EA 1 $ 3, $ 3, " Water Meter EA 9 $ 2, $ 22, " Irrigation Meter EA 1 $ 2, $ 2, " End Cap EA 1 $ $ Sewer 4" Sewer Lateral EA 9 $ 1, $ 16, " Sewer Main LF 444 $ $ 42, Adjust Sewer Manhole to Grade EA 3 $ $ 1, Sewer Manhole EA 2 $ 4, $ 9, Subtotal Cost of Project $ 412, Contingencies (15%) $ 61, Total Cost of Project $ 473,

13 TENTATIVE MAP 13

14 CONCEPTUAL ELEVATIONS 14

15 FLOOR PLANS 15

16 PARCEL MAP 16

AREA NEW HOME INFO 1. Insignia (City Ventures) = 7,800 SF Min Lot - $1,100,000-$1,400,000 2. Enclave (South Coast) = 9,000 SF Min Lot - $985,000-$1,175,000 3.

17 AREA NEW HOME INFO 1. Insignia (City Ventures) = 7,800 SF Min Lot - $1,100,000-$1,400, Enclave (South Coast) = 9,000 SF Min Lot - $985,000-$1,175, Lanai (Shea Homes) = 7,500 SF Min Lot - $1,120,000-$1,305, Buena Vista Colony (Pacific Legacy) = 11,500 Min Lot - $1,150,000-$1,250, James Street (Pacific Legacy) = 10,700 SF Min Lot - $1,068, Robertson Ranch (Toll Bros.) = 4,200 SF Min Lot - $745,000-$965,000 3 *See following page for additional details SUBJECT PROPERTY 6 17

NEW HOME SALES COMPARABLES COMPARABLE HOME SALES Project Builder City Open Date Type Lot Size Min. Unit Size sq ft Max. Unit Size sq ft Min. Price Max. Price Min. Price / sq ft Max.

18 NEW HOME SALES COMPARABLES COMPARABLE HOME SALES Project Builder City Open Date Type Lot Size Min. Unit Size sq ft Max. Unit Size sq ft Min. Price Max. Price Min. Price / sq ft Max. Price / sq ft Total Units Planned Total Units Sold Total Units Remaining Arterro at La Costa Davidson Communities Carlsbad 2/1/2014 Detached $949,900 $1,587,900 $ $ Enclave (The) South Coast Communities LLC Carlsbad 6/6/2015 Detached $979,900 $1,139,900 $ $ Insignia Carlsbad City Ventures Carlsbad 3/21/2015 Detached $1,300,990 $1,500,000 $ $ Lanai Shea Homes Carlsbad 4/23/2016 Detached $1,121,240 $1,305,000 $ $ Ridge (The) Toll Brothers Carlsbad 1/22/2016 Detached $779,995 $864,995 $ $ Southern Preserve California West Communities Carlsbad 2/7/2015 Detached $1,265,900 $1,385,900 $ $ Vistas (The) Toll Brothers Carlsbad 10/3/2015 Detached $854,995 $984,995 $ $ RESALE HOME COMPARABLES CMA Summary Report Average Sales Rate Zip RESIDENTIAL Summary Statistics High Low Average Median LP:$1,625,000 $799,000 $1,247,580 $1,199,950 SP:$1,515,000 $758,500 $1,180,308 $1,082,792 RESIDENTIAL - Sold Number of Properties: 10 Num MLS # Status Style FllAdd ZipArea Beds TotB COEDate LotSFApx EstSF DOM LP $/EstSF SP $/EstSF SOLD DET 2122 Twain CARLSBAD (92008) 3 3 6/2/2016 9,151 2, $959,000 $ $935,000 $ SOLD DET 5242 Coleridge Court CARLSBAD (92008) 4 3 5/27/2016 2, $999,000 $ $999,000 $ SOLD DET 2189 Twain Ave. CARLSBAD (92008) 4 4 6/9/2016 3,737 0 $1,060,000 $ $1,060,000 $ SOLD DET 3125 Canyon CARLSBAD (92008) 4 5 1/29/2016 3, $1,050,000 - $1,199, SOLD DET 1650 Frazier Ave CARLSBAD (92008) 3 3 1/26/2016 2, $1,199,000 - $1,200,900 $ $1,050,000 $ $ $1,105,584 $ SOLD DET 1620 Frazier Ave CARLSBAD (92008) 5 5 4/1/2016 4,350 6 $1,489,000 $ $1,400,000 $ SOLD DET 1184 Magnolia CARLSBAD (92008) 5 6 6/3/ ,756 3, $1,499,900 - $1,549,900 $ $1,480,000 $ SOLD DET 3585 Seaview Way CARLSBAD (92008) 5 5 3/28/ ,950 4, $1,595,000 $ $1,515,000 $ SOLD DET 1651 Oak Ave CARLSBAD (92008) 5 5 4/29/2016 4, $1,625,000 $ $1,500,000 $ SOLD DET 2381 Outlook Ct. CARLSBAD (92010) 3 3 2/4/2016 2, $769,000 - $799,000 $ $758,500 $ Avg $1,247,580 $ $1,180,308 $ Min $799,000 $ $758,500 $ Max $1,625,000 $ $1,515,000 $ Med $1,199,950 $ $1,082,792 $

19 For More Information, Please Contact: CA Lic# CA Lic#

2015 Financial Assurance 8/6/2015 Estimate Form (with pre-plat construction)

2015 Financial Assurance 8/6/2015 Estimate Form (with pre-plat construction) Project Information The Glen at Widefield Filing No. 9 PDD File: SF-185 9/25/2018 Project Name Section 1 - Grading and Erosion