Kraemer Land Company has plans to build nine more million dollar homes in The Enclave at Del Mar development
Kraemer Land Company recently announced it had purchased The Enclave at Del Mar Mesa, a nine acres area of land on which they planned to develop semi-custom homes.
According to a news release sent by Kraemer Land officials, the property was acquired from The Ernest D. Silberger Trust for about $4.4 million.
Developers have tentatively mapped out nine semi-custom home sites. Home prices are projected to start at $1.9 million.
Below is the complete and unedited announcement issued by the company:
Kraemer Land Company, a Southern California-based integrated real estate firm, announced its purchase of The Enclave at Del Mar Mesa, a 9.06-acre parcel in San Diego County’s Del Mar Mesa Specific Plan with an approved tentative tract map to build.
The property was acquired from The Ernest D. Silberger Trust for approximately $4.4 million and is mapped for nine semi-custom home sites, with protected and unobstructed east and west views toward the Pacific Ocean. Prices are projected to start at $1.9 million.
Kraemer Land Company will develop this site through an existing strategic partnership with Irvine-based homebuilder and developer, South Coast Communities, LLC, which will manage the project’s design, engineering, construction, marketing and new home sales. Long Beach-based architectural firm Steve Sennikoff & Associates has been selected to design the development.
“Each home is separately designed around the unique characteristics of each parcel. We have researched a great deal of product to formulate innovative floor plans and desirable features suited for this upscale community. We are excited to provide each homeowner with an optimal view and use of these hillside parcels,” said Brian Bauer, Principal of South Coast Communities.
Kraemer Land Company and South Coast Communities will break ground on the nine-home project in early 2014 with deliveries beginning in the second quarter of 2014. Dave Hutchins will be in charge of the project for South Coast Communities
“Kraemer Land Company is committed to adding value to the local community,” said Brett Albrecht, President of Kraemer Land Company, which is best known for developing classic communities like Orange County’s Placentia and Yorba Linda.
The site is located in a key suburban area of Del Mar where the arches, tile roofs and wrought iron accents of the development’s Tuscan-style architecture will fit naturally with the landscape and high-end surrounding developments, including the neighborhood’s Five-Star resort, The Grand Del Mar.
Kraemer Land Company committed an initial equity contribution of approximately $4.4 million.
Mark Matthess of Pacific Inland Group’s Encinitas office represented The Ernest D. Silberger Trust in the transaction.
