Message from the Mayor - Published in the Del Mar Times
By Richard Earnest
Mayor, Del Mar
The Del Mar City Council recently announced plans to sell at auction the city-owned residential lot at 2160 Balboa Ave. Proceeds of the sale will be used to pay off the debt the city undertook for the Del Mar Shores Park property. The city bought the Shores property as open space for $8.5 million from the Del Mar Union School District.
The Friends of Del Mar Parks raised approximately $5 million, and the city financed the difference. It is essential that the Shores debt be retired as soon as possible, and the sale of the Balboa lot is anticipated to generate the required funds. Through the sale of this property, the city will replace an idle asset with one that will preserve 5.3 acres of recreational, educational and open space for use by the residents of the city.
The Balboa lot is clearly one of the most desirable buildable lots in Del Mar and has not been available for over 45 years. Located at the end of a long ridge, the property sits high above the street and offers 270 degree views including expansive whitewater views to the west, sweeping views of the Fairgrounds and lagoon to the north, and unobstructed mountain and lagoon views to the east. With its end-of-cul-de-sac location, and positioned high above most adjacent properties, the parcel has the rare combination of incredible views, quiet privacy, and size. Based on the development standards, it can accommodate the development of a large single-family residence and is large enough to be subdivided into two lots.
The auction is scheduled for late September, and marketing efforts are already underway to take advantage of the visitors in town for the Del Mar race season. The City Council issued a Request for Proposals for a marketing consultant and ultimately awarded a contract to Steve Uhlir of SURE Real Estate Group to market the property and to conduct the auction, based upon his firm's specialization in marketing and auctioning high-end properties. A San Diego native, he and his business partner Jim Gall, hold numerous records for the highest priced auction sales in the county.
Mr. Uhlir will showcase the property through auction brochure mailers, signage, newspaper ads, and will feature the lot on numerous websites including BalboaLotAuction.com. This is such a distinctive property that it will be marketed locally and nationally to gain the most interest.
Source: Del Mar Times