Pirates Cove owners pursue development
The owners of coastal bluffs near Avila Beach known as Pirates Cove have secured the right to receive water from thecounty— increasing the price of their land, raising the possibility of housing development and placing another obstacle in the path of those trying to buy the property for a public park.
Having water available makes land more valuable. A preliminary appraisal of the 131 acres in and around Pirates Cove conducted in February, after the will-serve letter became known, came to $13.5 million, according to Karen
Frankel, project manager with the Trust for Public Land, a national nonprofit group working to broker the land purchase for San Luis Obispo County.
Last November, the trust’s estimate was $6 million to $10 million.
In addition, the county Planning Commission approved a so-called “declaration of conformity” two weeks ago, affirming that the development on the site fits with the county’s General Plan. That also pushes up the price.
The county parks division and land preservation groups have been eyeing the property since last year, when its owners, San Miguelito Partners, announced they were willing to sell.
The land is east of the Chevron/Unocal tank farm site at Avila Beach and contains a rocky point known as Mallagh Landing and the Pirates Cove nude beach, as well as an inland peak called Ontario Ridge.
It contains six legal lots, with four residential building sites. Even with the water available, there are other hurdles to building on the property. A builder most likely would have to put up retaining walls, said county planner Matt Janssen, and figure out a way to deal with the big landslide area directly above the cove.
County officials and conservationists believe the site would make a striking spot for a park and would help to connect some of the trails along the coast.
But the county’s fiscal contribution is in question. It is in a belt-tightening mode, in part because the real estate slump has led to declining property tax revenues.
That leaves it up to groups such as Frankel’s to collect money from various sources.
“We’re still hoping to do something out there,” Frankel said last week. But she acknowledged that it would be challenging. She is seeking money from an alphabet soup of state, federal and private organizations.
The heightened marketability of Pirates Cove is the second blow to the purchase in less than a year.
In November, the federal government turned down a $3 million grant request from the county that would have been used to help buy Pirates Cove.
The higher price doesn’t mean the deal is dead, said Jerry Lenthall, chairman of the Board of Supervisors.
“Everything is still on the table,” said Lenthall, who represents the area. “There are proposals. Any number of combinations might work,” including the county getting some, rather than all, of the land.