East Beach Collection - Great Opportunity for Newer Condo Development in Downtown Santa Barbara
East Beach Collection
If you are looking for a new condo / town home to purchase in the downtown area of Santa Barbara, most of the time the options start at around the $700,000 price point with many of the units around the $900,000 to $1.3 million price range and higher. For the first time home buyer, The East Beach Collection is a great new complex in the downtown area, without the high price point. In total there are 48 units within the East Beach Collection with 8 selling at market rate (no restrictions and prices around $750,000 plus) and 40 units selling "below market" since they are only available to be purchased by homeowners that are working in the South County of Santa Barbara. These units sell for approximately $400,000 to $500,000. It is not an affordable program and it is not income restricted. The true caveat is that the buyer has to be a home owner and be working in the South County. This eliminates any investors, family members buying for their children going to University, second homes etc.
The design of the units are Spanish/Contemporary town homes with 2 car garages, patios, relatively low HOA fees (around $250 per months) and the project is a LEED Certified Community complete with individual solar panels. Most units are 2 bed 2.5 bath around 1200-1400 sqft.
For information on Real Estate here in Santa Barbara, Montecito and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Berkshire Hathaway Home Services.
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