Real Estate November 22, 2011

Big changes for a small town

With Santa Barbara’s current city population hovering around 88,000 (an approximate 4% decline from 10 years ago) it’s hard not to notice even the smallest changes that happen to the profile of “America’s Riviera”. Two of the city’s most prominent thoroughfares, State Street and Cabrillo Boulevard, are seeing big changes now or in the near future.

There’s the planned “La Entrada” Project on 2.37 acres of lower State Street which includes rebuilding of the Californian Hotel, new restaurants, shops, open plazas, paseos and gardens, parking, a spa, and 9 vacation timeshares.

Many new retailers, restaurants and businesses are changing the makeup of State Street’s commercial corridor. REI, S.B. Rock Gym, Savvy, Paper Source, El Cielito Restaurant, Maggie’s at State & A, Mimosa and Petros Greek Restaurant are just to name a few. Click here for more details.

Cabrillo Boulevard’s long time vacant 23 acre oceanfront estate located across from the Bird Refuge and worth an estimated $100 million is also in starting transition. The former owner Huguette Clark passed away in May at the age of 104. The property’s destiny will be influenced by the legal settling of Huguette’s $400 million estate. Click here for the story.