A 35,000-square-foot vacant parcel at 151 S. Fairview Ave. in Goleta was sold for $3.25 million with plans to build an America’s Tire.
It is one of the few parcels of vacant, developable land in Goleta where a variety of hotels and housing and commercial projects are in the works.
It will fit nicely into the auto/industrial corridor near the Fairview and Hollister intersection, said Rob Adams of Lee & Associates, who coordinated the off-market deal along with Steve Leider. The seller was local and the buyer was affiliated with America’s Tire, which is also known as Discount Tire, Adams said.
“Part of the reason that the sale price for the dirt was higher was because that parcel was fully entitled for their development,” he said.
There is a water meter on the parcel — another reason for the higher price, Adams said. Goleta has a moratorium on new water meters due to the drought.
A mixed-use development was initially slated for that space but the buyer made some slight adjustments to the entitlements, Adams said. The 7,500-square-foot America’s Tire could be up and ready by the end of the year because it is all planned and permitted, he said.
There are more than 1,600 housing units in the pipeline ranging from single-family homes to affordable rentals.
The Village at Los Carneros is currently under construction and will feature a mix of condos and single-family spaces totaling 465 units. The Heritage Ridge project, proposed by the Towbes Group, would add 360 residential and senior apartments just north of Calle Koral and west of Los Carneros. The city approved the 176-unit Cortona Apartments at 6830 Cortona Drive. Ventura-based developer City Ventures’ Old Town Village on South Kellogg Avenue will provide 175 townhomes and the assisted living center Mariposa at Ellwood Shores will house 90 seniors at 7760 Hollister Ave. Hollister Village will add close to 300 apartments at 7000 Hollister Ave. when completed.
“After all those roofs are fully built, there will be a lot more people in that area,” Adams said.
• Contact Alex Kacik at [email protected]