– On Monday morning, the trusses will be raised on 1251 Dutch Hollow, the highest home site in Del Webb’s Sierra Canyon (and the last to block my view). Sierra Canyon – Sierra Canyon II at this point – seems to be on a tear. 76 closed transactions YTD. Site work is well underway for Village 13 and lender approval to subdivide Village 14. What happens after the final Village 15? Will there be a Sierra Canyon III? I believe there will be. There is a site for 136 housing units in the Mortensen tract only accessible through Sierra Canyon via Bennetts Court. The Age Restricted folks won’t want to allow rugrats there.
– Also in the neighborhood, Sunset Bluffs, that scar above Mogul has hit the market at $86,000 per unfinished raw lot. Great to see some action on this eyesore at our Gateway, but it is overpriced by 7X or so. My recollection is the $1.3M bond the listing refers to is a Restoration Bond to remove the existing improvements and restabilize the hillside, not a Completion Bond to finish off the site improvements.
– Want a piece of downtown? The Horseshoe just hit the market.
– Why are the downtown developers redlining the Wells Avenue District? Easy question. The plan is so prescriptive as to be unusable and undependable, and the zoning boundaries split at the street level rather than the alley or zoning break level. Why would a developer choose a Wells parcel to develop when the parcel across the street in Midtown has development and parking bonuses? They won’t, and the Wells District will continue to flail and fail until a more comprehensive plan is implemented – over the continuous objections of the ultra NIMBY neighborhood associations.