Waterfront property on Ortega River for sale with PUD
A Lakeside property and its corresponding Planned Unit Development (PUD) is on the market for $4.8 million. The Ortega River Club Condominiums is marketing a 1.27-acre parcel that was zoned for an 80-unit condominium in the early 1980s as Phase 2 of the Ortega Yacht Club Condominium complex at 4401 Lakeside Dr.
Originally part of the PUD which approved the construction of the 12-story Ortega Yacht Club Condominium, the parcel has been vacant since Phase 1 was completed in 1983. The condominium association sold the parcel in 2001 to Charles Chupp, president of Load King Manufacturing, for $600,000.
The land use is zoned for high density residential (HDR), and a prospectus dated April 2015 notes alternative uses of the property include townhomes or a senior living community.
The senior housing concept, as indicated in the prospectus, notes assisted living on the second and third floors, memory care on the fourth floor, and independent living on floors five through 12, with four four-bedroom penthouse units. Parking is depicted as both surface and below-ground parking.
The waterfront property is adjacent to a three-dock, 99-slip marina once known as the Ortega Yacht Club Marina but was renamed in 2015 to the Ortega River Marina.
By Kate A. Hallock, Resident Community News
(No Ratings Yet)
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