In an incredibly anxiety-inducing situation for those devoted to the preservation of California’s treasured coastline, three adjacent coastal properties in Santa Barbara are on the market at once, asking a combined $197.895 million. Cumulatively, the parcels of land make up 2,214 acres, including almost four miles of oceanfront property.
It’s not the first time these parcels have been on the market in the past few years, and though they are being sold separately, real estate group Kerry Mormann and Associates is advertising the potential to buy all three as a "once in a lifetime opportunity to reassemble the heart of the original 15,000 acre Rancho Los Dos Pueblos ... [a] priceless opportunity more akin to art, than real estate."
Of course, different people have different definitions of what constitutes art. As the listing notes, the southern portion of the property is, per the listing, "one of the most significant and controversial properties on the California coastline due to its potential for development." Subdivided by a failed developer in the late 19th century, the area—known as Naples—was most recently the planned site of a Santa Barbara County-blocked attempt to develop 72 lots covering 1,000 acres.
Environmental groups have long fought fiercely against development along Santa Barbara’s Gaviota Coast, given the area’s natural beauty, history, and rich ecosystem.
Fortunately, Kerry Mormann has said the sellers want to find preservation-minded buyers for the properties. Of course, at such a high price point, it might be hard to find any takers with the public’s interest purely in mind. The properties all came on the market earlier this year, but have yet to find a buyer.
- Coastal Ranch [Kerry Mormann & Associates]