The last couple of weeks have seen a great deal of discussion about how the “historic” compromise between the Pebble Beach Company and the California Coastal commission will impact life in Pebble Beach, home values, and opportunities to buy a vacant lot and build a new home.
Rather than review the sordid history of lawsuits, referendums, etc., I will summarize the development that Pebble Beach will pursue, including the development of a new 100 room hotel, expansion of both Spanish Bay and the Lodge and Pebble Beach and 90 homes in a number of different spots in the Del Monte Forest. The approval of the compromise by the commission will mean that Monterey County is now free to approve the various land use permits required for the agreed upon development. The plan is an amendment to Monterey County’s Local Coastal Program (LCP) which is required by the coastal commission.
A summary of some, but not all, of the agreed upon points:
- Remaining undeveloped land in Pescadero Canyon (approximately 246 acres)
- Approximately 120 acres adjacent to Huckleberry Hill
- The 137 acres originally envisioned as the location of a new golf course
- The approximately 29 acres that was previously proposed for a golf driving range
- The approximately 42 acres previously proposed as the new home for the equestrian center in the Sawmill Gulch area
Visitor Services Development
- New hotel located at the old Spyglass Quarry, up to 100 rooms.
- 140 new hotel rooms at Spanish Bay Inn and the Lodge at Pebble Beach (and expansion of meeting rooms)
- Moving the Pebble Beach golf driving range to the Collins Field area, the equestrian center stays in its current location.
- Designation of the Del Monte Forest trail system as a component of the California Coastal Trail
- Improved trail and public recreational facilities to allow better access along the shore line.
New low density development
- 35 single family residential lots where the current “corporation/maintenance yard” and a portion of the area where the equestrian center/current driving range is located.
- 32 single family residential lots adjacent to Poppy Hills Golf Course
- 23 single family residential lots adjacent to the Spyglass Hill Golf course
There are currently 2,996 home sites within the Del Monte Forest. Of those , 2900 of them have homes on them, and 96 are vacant.
The addition of the 90 new lots will nearly double the number of vacant lots in Pebble Beach. Of course, Pebble Beach will release the lots over time so as not to flood the market with vacant land. There are currently 12 vacant lots for sale in Pebble Beach ranging form $9,900,000 for a cliff top 2 acre lot along 17 Mile drive to $349,000 for a 1/3 acre lot with no views in the “upper forest” area in the north east.
A subsequent blog post will review in detail the location of the new lots and the Pebble Beach Company’s preliminary site assessment of how those lots will be placed.