Newport Beach, CA
Modern luxury, steps from famous sands.
We acquired an existing 54-apartment community in West Newport Beach that was in need of extensive renovation or tear down. During due diligence, we determined that an older Coastal Development Permit had been obtained by a previous buyer that allowed for 24 duplex and SFD units.
Bringing ingenuity to the table.
Although the permits had long expired, Brooks Street successfully reinstated the permits by asserting that State legislative extensions of development permits during the Great Recession also applied to Coastal Development Permits.
24 originals. One buyer.
We completed all the planning, design, marketing and land development before Taylor Morrison made an unsolicited offer to purchase the shovel-ready project and complete construction.
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