New luxury homes are nearly complete in ‘last of the land’ in Pismo Beach
A new development of luxury homes looking out over Highway 101 and the Pacific Ocean are becoming available in Pismo Beach this year — and its taking some of the last undeveloped land in the city with it.
Nestled into the base of the mountains that form the eastern geographical boundary of Pismo Beach, nine new homes — of which five will be available for sale by the end of the year — make up “Barcelona Point,” a cul-de-sac luxury home development that caps off Barcelona Street.
Realtor Charissa Deegan, who represents the properties, said the land itself was originally considered for development in the 1980s when much of Pismo Beach’s eastern residential neighborhoods were being laid out, but was sold by the developers to a family that held possession of the land for around 20 years.
Bay Area-based investors in Barcelona Point LLC — the company representing the construction and sale of the new homes — purchased it from that family in the years following the start of the COVID-19 pandemic, Deegan said.
“We had a couple of developers, who bought lot four and lot six, and then since then, we decided we were going to build the rest,” Deegan said. “We contracted (developer) Abbott | Reed to build out the best of our homes for us, and they’re all uniquely individual.”
Deegan said Barcelona Point offered the opportunity to develop homes from the ground up on land that has never been developed before — a rarity in a spatially constrained city like Pismo Beach that is fully developed within city limits and limited by the ocean to the west and mountains to the east.
“It’s the last of the land,” Deegan said.
How developers moved mountains for new luxury homes
Construction on Barcelona Point got underway in 2023, and is slated to wrap up by the end of the year, Deegan said.
She said the project’s close proximity to Highway 101 to the west and mountains to the east dictated the shape and finish of the homes.
On the mountain side, several thousand tons of soil and rock were carved from the base of the mountain to level the four lots whose foundations will be nestled into the mountainside, with the spoil redistributed to level the surrounding lots, Deegan said.
A series of retaining walls around and as a part of these homes’ foundations were installed to stabilize the land, she said.
“I’d be guessing, but to dig into the mountain the way we did, I would probably say it was over $1 million,” Deegan said.
The taller homes on the east side of the street feature ground-level garages, along with built-in elevators from the ground floor to the top, while the eastern homes have garages set into the ground.
Each home features a second or third-floor balcony facing the ocean, and the mountain side homes feature a second, smaller balcony on their upper levels, providing residents with a private patio space, she said.
Inside, double-pane soundproof windows were installed in each home to cut out the road noise from the nearby Highway 101, Deegan said. Homes were built with premium materials and finishings such as wooden floors and kitchens featuring large marble islands, she said.
The new Barcelona Point homes will be part of their own homeowners association separate from the townhomes that run through much of the Spyglass Ridge neighborhood, Deegan said.
New homes to go on sale during Independence Day
Deegan said while some of the smaller homes on the eastern side of the road may wind up being second homes due to their smaller footprint, the larger three-story homes will likely be sold as primary residences.
Each of the nine homes that were developed as part of the Barcelona Point neighborhood varies in square footage and features, from around 1,700 square feet in the smaller eastern homes up to around 2,800 square feet in the western homes, Deegan said.
As a result, prices for the five homes will range between just under $1.87 million for one of the two-story homes and $2.75 million for the larger homes — of which one has already been sold, Deegan said.
An open house for the remaining homes in their various states of completion will be held this weekend, starting Thursday through Sunday from 11:30 a.m. to 3:30 p.m., Deegan said.
During the open houses, Deegan said she will offer buyer incentives, allowing customers to buy down the mortgage rate and get lower closing costs.
Listings for the homes can currently be found on Redfin, and will be updated with new details periodically.
