Lee & Associates Negotiates Land Sale in Santa Barbara
The 1.76 acre site to be used for affordable housing
SANTA BARBARA, Calif.—May 8, 2014—The Housing Authority of the City of Santa Barbara has purchased a 1.76 acre site for the sole purpose of building affordable senior housing.
Stephen Leider and Clarice Clarke, both with the Santa Barbara office of Lee & Associates, represented the buyer and seller in the $2.25 million transaction at 251 South Hope Ave., originally intended for automotive use.
“Because this is one of the last vacant land lots in this area that permits ground up development,” said Leider. “The plans are to build senior affordable housing for those who qualify in the Santa Barbara area.”
According to Leider, Santa Barbara is virtually built out with no vacant land available within the city limits.
About Lee & Associates
Celebrating more than 35 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the country with 49 locations across the nation including California, Arizona, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas, and Wisconsin. With more than 750 brokers nationwide, Lee & Associates provides a wide range of specialized commercial real estate services on a local, regional and national level. Additional information is available at www.lee-associates.com.