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| 30-year fixed: |
5.375% |
| 15-year fixed: |
4.750% |
| 30/5 fixed: |
4.000% |
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 Pacific Seas Condominiums: A Tale of Rebirth
Before At|vantage
There was an apartment building with a history of bankruptcy, foreclosure, lawsuits and neglect.
After At|vantage
A beautiful luxury beach condominium project nominated for a National Design Award.
It lay vacant for eight years, became a homeless hideout, was condemned by the city, and finally degenerated into a crumbling blight on the neighborhood. This describes the 12 units of apartments that are now deluxe condominiums on the beach in Oceanside.
Originally a 40-year-old hotel, it was converted to apartments and then given a new life as luxury beach condominiums that sold from $232,000 to $849,000. This wreck of a building was acquired by Custom At|vantage Builders in June 2000 and underwent a sow's ear transformation. The last apartment sold in March 2002.
The neighborhood buildings that dot the beach had been kept on life support for years through paint and carpet remodels, but they never seemed to warrant significant investment. When looking to redesign the building, Custom At|vantage Builders was limited by the condominium plan approval, which, due to new parking and construction requirements, meant that the project had to be built in its existing footprint.
Conformance was stretched to its limits when the project was taken down to all but a skeleton of studs. Good bone structure was all that was left remaining. The original building had no redeeming design qualities; it was an ill-fated remodel to a California mission look with massive beams, a bell tower, and an adobe home in the middle.
Concerns over construction defect litigation combined with surprises beneath the surface sent costs soaring. The electrical was replaced, as well as the roofing, siding, and plumbing. The extra precautions created a project that will stand the test of time. A total plumbing failure required locating and saw cutting out all underground plumbing.
This 10-year old project (dormant most of that time) had survived three updates of the building code and a total revision of the city plan, a problem that could have precluded the building of this project.
The project is made up of three separate buildings, including a single family detached home in the middle. This eclectic arrangement was suited for cobbled passageways, courtyards and open spaces reminiscent of the old world. We designed and implemented a cleaner, "Tuscanyesque" exterior that opened up the views, updated the look and marked the potential of the neighborhood. With the charm of this design, the project set new highs in sales prices for the area by providing unique upscale beach condominiums to an ever-growing second-home market.
The high-end price required high-end appointments like granite countertops, stainless steel appliances, travertine flooring, ventless stacked washers and dryers, and good use of small spaces. For example, when a unit was combined to make a penthouse upstairs, it left one available unit on the original condominium plan. Through a modification of the original plan, the laundry room of the original apartments became a 350 sq. foot studio that sold for $190,000.
Separate spaces and entrances were made possible through courtyards, block work, changes in stucco color and trim as well as landscaping. It is a project that would never be designed today but its quirky charm ultimately provides a more intimate environment for the residents.
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