Excerpt from San Diego Union Tribute
A local development team has taken the first step toward transforming a prime oceanfront site on the Del Mar bluffs into a resort that would also include a public park.
The Robert Green Company, which recently opened the upscale Pendry hotel in downtown San Diego, is teaming with Encinitas-based Zephyr, a housing developer, to acquire seven parcels of land located just south of Solana Beach, north of Del Mar dog beach and west of the fairgrounds.
Currently owned by three different families and under private ownership for at least the last century, the triangular-shaped piece of land has long been occupied by only a couple of gated homes, while the northernmost piece remains vacant. Adjoining the site on the south are four acres of city-owned land laced with winding walking trails.
The Encinitas developers announced last week they have entered into a long-term agreement with the landowners to acquire and develop their property, culminating more than a year-long effort to strike a deal.
They have yet to formulate specific development plans but the centerpiece would be a luxury resort that could be complemented with hotel-branded villas, restaurants and walkways, not unlike the concept behind the Montage blufftop resort in Laguna Beach.
“I was born and raised in San Diego, and until a year ago, I had never set foot on this property because it’s all private,” said Robert Green, whose downtown hotel project was a partnership with Pendry’s parent company, Montage International.
“One could just build 25 super luxury single-family homes, but that would mean the only people who could enjoy that property would be those 25 families. The idea of building a luxury hotel is much better for the community not only financially, but it also opens up the property to public access forever so anyone can come and stay there, and dine there."
Green would not reveal the financial terms of the deal with the landowners.