Just over a decade after first being considered for development as a beachfront condo, a 1.24-acre property at the corner of A and 2nd streets is again up for auction. However, all the homework has been done and entitlements are secured for a prospective buyer to complete the condo project that started in 2007.
According to a promotional publication from Realty Marketing Northwest in Portland, Ore., the reserve price has been reduced from $750,000 to $595,000. Longtime locals will remember the property as the former location of the Community Wellness Center.
Owner Randy Baugh, a property developer from Eldorado Hills, bought the property and, in 2007, embarked on the process to get permits from local agencies and the California Coastal Commission to build the condo complex next to the Oceanfront Lodge.
By phone Wednesday, Baugh said, the property will come with all entitlements, architectural plans, engineering reports, and studies. The buyer will also have the option to renovate the existing building, which has 65 parking spaces on a private lot.
Baugh explained when the property was up for auction in 2014, the prospective buyer didn’t come through.
“We think this is a great time to sell,” he said, adding that a buyer could take advantage of the current housing market. He said he is selling since he does not live in Crescent City and his company needs to focus on other projects.
“It’s a great property,” Baugh said. “We had a lot of interest in it back when we did the plans. Now, we just need someone to carry it to the next level. I don’t think you’ll find a better piece of property in Crescent City.”
A short history
In 2007, the site of the former Del Norte Community Wellness Center sold for $1.35 million, kicking off a plan to build a condominium complex there. Plans called for the 37-unit condominium project to be built on 1.24 acres, currently the site of a 9,500-square-foot building. The project was to be called Coasta Norte, a 44-unit condo with a lobby, community room, and fitness center.
At the end of 2008, the project was scaled down to a 37-unit plan. In June of that year, the application for development was pulled but resumed soon afterward.
In 2009, the California Coastal Commission approved the 37-unit condo project, with modifications and conditions.
In 2010, more than 20 percent of the condos had been reserved but sales were stopped to allow the permitting process to continue.
In 2012, Baugh said he was pulling the plug on the condominium project, at the time saying it was no longer in keeping with his company’s priorities. At the time he called the project “shovel-ready” adding that he felt a local developer should finish the project. The land was then put back on the market.
At the time it was discussed whether local fire departments could burn down the existing building for training purposes but Baugh said that would not be prudent.
In 2014, the property was up for auction, with an opening bid set at $690,000.