Michael Miller from the
Daily Pilot wrote a piece about our "Live Free" promotion at 1.7 Ocean.
Says Michael:
Pete Zehnder and Steve Jones want so badly to see the Westside redeveloped that they’d give housing away there for free.
And for six months this year, they plan to do exactly that.
The owners of Bettershelter, a Costa Mesa developer that builds affordable housing, opened a condominium complex called 1.7 Ocean last summer on Bernard Street. Zehnder and Jones sold the first 10 units in the complex easily — but with the housing market dragging, they’ve come up with a special incentive to lure buyers to the last two.
The program, known as “Live Free,” allows residents to move into the two-bedroom units and not pay a penny for the first six months. The bungalows are priced at $519,000 each — the lowest price in the complex — but for that first half-year, the Bettershelter owners will foot the entire bill using the money they made off the previous 10 sales. If the customer prefers, Bettershelter can also use the money to drive interest rates down or put it in a rebate check.
“Everyone reads so much negative press [about the housing market] that they’re scared to come out,” Zehnder said. “They feel they should not be in the market at this time. We want to tell people it’s a very smart time to be in the market.”
The Live Free offer is set to expire Feb. 28. Zehnder and Jones have gotten a diverse mix of homeowners at the first 10 units, but the buyers tend to be singles or childless couples. In addition to two bedrooms, the bungalows feature single bathrooms, one-car garages, private-entry patios and even small yards.
Overall, the owners hope to target first-time home buyers at 1.7 Ocean — and they want to take some of the stigma off the Westside, an area often associated through the years with crime and poverty. Jones and Zehnder both serve on the board of the Westside Business Culture, a committee dedicated to spurring economic development in the area.
“The typical buyers are looking for the Eastside of Costa Mesa,” said Zehnder, whose firm is also constructing an Eastside bungalow project on Elden Avenue.
The 1.7 Ocean project did make history a few years ago when the owners purchased a rundown apartment complex and began converting the units into condominiums. Planning Commissioner Eleanor Egan and Principal Planner Claire Flynn said the conversion project was the first in Costa Mesa since the 1980s, at least.
Since then, the city has gotten a number of proposals to convert apartments into housing, but Egan said 1.7 Ocean remained unique in its homey design.
“It’s a nice project,” she said. “I think people really like having their own little bungalow with a little bit of garden to tend.”
FOUNDERS: Steve Jones and Pete Zehnder
HEADQUARTERS: 539-B Bernard St., Costa Mesa
SPECIALTY: Providing unique and sophisticated affordable housing in Costa Mesa
CONTACT: (949) 230-5426 or
www.bettershelter.com
This is Comme des Garcons' first pop-up store in the U.S. and they chose LA.
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