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RISMEDIA, July 26, 2007–(MCT)–A 13-unit condo development in Santa Barbara has recently opened for sale, touting itself as “affordable luxury,” with prices starting at $875,000, and going up to nearly $1.2 million.

Located at 4004 Via Lucero, at Wye Road, the Del Mar Townhomes development joins several new condo projects around Santa Barbara that are targeting buyers seeking more luxurious amenities. Unlike projects in the downtown core, such as those on Chapala Street and Anacapa Street, the Del Mar condos are mostly priced below $1.2 million.
Cedar Signature Homes, headed by Santa Ynez Valley resident Adam Pasori, is the developer. This is the company’s first development in Santa Barbara, and it also has another smaller project in the works on Calle Laureles.

Although priced below $1.2 million, the Del Mar project enters the market at a challenging time for home sales. Out of 13 units, only three carry price tags below $1 million. A search through home listings for sale shows that there plenty of choices for buyers looking for a home in that price range. The selections include single-family homes as well as other new condos labeled as “luxury.”

Several of the new luxury condo projects in Santa Barbara that have been built in the past year or two are still trying to sell off remaining units with prices between $1 million to $1.5 million. This includes a project near the Del Mar condos, at Modoc Road.

Units in the Spanish-style Del Mar development, which is expected to be completed in September, range in size from approximately 1,750 square feet to 2,240 square feet, in two- and three-bedroom designs. The condos are all attached and constructed in one building, with a total of three stories, including garages on the ground level.

There is only one unit priced at $879,000, and this is a two-bedroom, with 2 1/2 baths, and approximately 1,750 square feet of living space. The largest unit has about 2,240 square feet of space with three bedrooms and 2 1/2 baths, for a price of $1,179,000. All the units have two-car garages.

Luxury amenities in Del Mar include vertical-cut bamboo wood flooring in the living room and bedrooms, and travertine tile in kitchens and baths.

Interior doors are solid walnut with walnut window frames. Kitchens are equipped with custom cabinetry, stainless-steel appliances, gas stovetops and convection ovens. Bedroom closets have built-in organizers.

Some of the units have private backyard patios, and others have patios that are next to the common central courtyard, separated only by a low wall.

Realtors Kalia Rork and Sue Irwin of RE/MAX Santa Barbara have the listing.

Copyright © 2007, Santa Barbara News-Press, Calif.
Distributed by McClatchy-Tribune Information Services.