A large portion of land in Santa Barbara County has recently been placed up for sale, offering new development opportunities in the region. According to a marketing brochure from Cushman & Wakefield, a sprawling 192-acre property in Orcutt is up for sale. Pricing guidance was undisclosed.
The property is marketed by Cushman & Wakefield’s Jacob Kovner, Connor Martin, Erica Finck, and Mike Condon, Jr. The property is marketed on behalf of the current owner, an entity linked to Kelt Osborne & Co. LLC, according to public property records.
The property is situated directly south of the Orcutt Community Park, which is located at 5800 S Bradley Road.Currently zoned as AG-100 by the County of Santa Barbara, this property is in the early stages of the entitlement and rezoning process, aimed at securing approvals for a single-family residential subdivision.
The envisioned development plan for the land is to create an enclave of approximately 70 to 100 estate-style, luxury homes, each situated on one-acre lots. While this plan is in its initial stages, the ownership remains flexible and open to exploring various development options, according to the property listing.
The larger Santa Maria/Orcutt area primarily features single-family residences, agricultural land, and open spaces as well as high-income demographics. The property is also immediately south of several recently developed or under-construction housing subdivisions, such as Pine Creek, The Oaks, Meadow View Town Homes and Valley View Estates at Rice Ranch.
New housing developments in the immediate vicinity have consistently sold out, with pricing showing impressive year-over-year growth. Despite fluctuations in the interest rate environment, average home pricing per square foot in Orcutt surged by 14.4 percent in 2021 and a remarkable 16.8 percent in 2022 (rising from $284.69 in 2020 to $380.49 per square foot in 2022). Santa Maria, as a whole, is emerging as one of the fastest-growing residential communities in Santa Barbara County, according to Cushman & Wakefield.
