Caspar Community Steering Committee Working Group :: 5 August 1998

Judy, Mike, Michael, Vince, Ken, Hunter, Andy, Suzana, several local real estabe brokers at Judy's. A planned 4.5-hour meeting.

Planning Contract
     Andy explained that the new concept of the UC contract (according to Randy) is that he remains the mentor, but that Andy is the "day-to-day contact". The 13th of September is slated as the General Presentation of the Three Plans, with neighborhood meetings afterwards.

Real Estate Values
     For several hours we worked to establish a model of the value of the exisiting Caspar Cattle Company parcels and their possible development value.

Values for existing parcels and conventional splits:
parcel APN parcels acreage value per acre CCs
Headlands one parcel has to be 20A min, rest can be non-compliant
whole headlands 118-08-1 1 50 $3,500,000 $70,000 8
headlands compliant parcel 1 20 $3,000,000 $150,000 0
headlands small parcels 7 4.29 $450,000 $105,000 0
North Central (near Shul) crosses highway
present 1 48 $600,000 $12,500 1
West of highway 118-05-27 1 24 $300,000 $12,500 0
East of highway (compares to Pat Anderson's 20A) 118-05-18 1 24 $400,000 $16,666 0
South Central (behind Black Bear)
present 118-08-10/12 1 11.8 $500,000 $42,373 0
split 5 2.36 $150,000 $63,559 0
Southeast Parcel (includes water)
present parcel 118-08-14 1 60 $900,000 $15,000 3
sold once 3 20 $1,200,000 $60,000 0
sold and split again 5 12.5 $1,800,000 $144,000 0
Creek parcels
118-08-13 1 14 $600,000 $42,857 2
South Parcels
? 1 ? $2,000,000 ? 2

It was noted that existing improvements could be valued at between $80 and $100 per square foot. It was also revealed that the State paid about $25,000 per acre for the Point Cabrillo lands.

     The UC Berkeley team had asked for values of a variety of unconventional parcels, and the panel determined that the following prices would be reasonable under current market conditions. Areas in the following table are

UCValZones.jpg - 41832 Bytes

1 Central Caspar
2a North Village
2b South Village
2c Far South parcel
3 Central Caspar Pasture
4 East Caspar Grazing (Goose pond)
5 Headlands
6 Riparian
7 South-East Caspar Grazing
8 Easternmost Parcel

area description acres value
Single family, water provided, shared bio-wetland sewage
2a with views to ag / highway noise 0.25 50,000
2b with views to ocean 0.25 65,000
2c with views to agriculture or forest near creek
4 along east boundary with view to pond 0.25 60,000
7 clustered near trees with view to agriculture 0.25 55,000
8 clustered in trees 1 70,000
Duplex, water provided, shared bio-wetland sewage
2a with views to ag / highway noise 75,000
2b with views to ocean 97,500
2c with views to agriculture or forest near creek -
4 along east boundary with view to pond 90,000
7 clustered near trees with view to agriculture 82,500
8 clustered in trees 105,000
1/4 acre lot fourplex, water provided, shared bio-wetland sewage
2a with views to ag / highway noise 100,000
2b with views to ocean 130,000
2c with views to agriculture or forest near creek -
4 along east boundary with view to pond 120,000
7 clustered near trees with view to agriculture 110,000
8 clustered in trees 140,000
4 acre parcel, 20 units of clustered housing for artists and crafts people
2a with views to ag / highway noise 461,538
2b with views to ocean 600,000
2c with views to agriculture or forest near creek 390,000
4 along east boundary with view to pond 553,846
7 clustered near trees with view to agriculture 507,692
8 clustered in trees 390,000
4 acre parcel, 20 units of clustered housing for retirees, minimal health care
2a with views to ag / highway noise 461,538
2b with views to ocean 600,000
2c with views to agriculture or forest near creek 390,000
4 along east boundary with view to pond 553,846
7 clustered near trees with view to agriculture 507,692
8 clustered in trees 390,000
10 acre parcel, single family, house location restricted
2a with views to ag / highway noise 134,615
2b with views to ocean 175,000
2c with views to agriculture or forest near creek 113,750
4 along east boundary with view to pond 161,538
7 clustered near trees with view to agriculture 148,077
8 clustered in trees 113,750
20 acre parcel, single family, house location restricted
2a with views to ag / highway noise 211,538
2b with views to ocean 275,000
2c with views to agriculture or forest near creek 178,750
4 along east boundary with view to pond 253,846
7 clustered near trees with view to agriculture 232,692
8 clustered in trees 178,750
1/8 acre parcel, mixed use building, housing second floor, commercial ground floor
1 view to headlands 90,000
1 clustered around Shul 80,000
2b with views to ocean 125,000
1/8 acre, commercial or office, three story limit, water from town system
1 view to headlands 108,000
1 clustered around Shul 96,000
2b with views to ocean 150,000
6 acre parcel, eco-health hotel / B&B, 50 seat restaurant, 20 rooms
1 view to headlands 720,000
1 clustered around Shul 640,000
2b with views to ocean 1,000,000
12 acre parcel, eco-health hotel / B&B, 100 seat restaurant, 50 rooms, conference space for 100
2b with views to ocean & beach 2,200,000
2 acre parcel, light industry, light manufacturing, research and development, office
1 view to headlands 200,000
1 clustered around Shul 200,000
7 with views to ocean 220,000
7 no ocean view 200,000
10 acre parcel, top computer software firm, hotel, meeting areas
1 view to headlands 1,400,000
1 clustered around Shul 1,400,000
7 with views to ocean 1,540,000
7 no ocean view 1,400,000
Agriculture
orchard 1 75,000
grazing 1 33,000
commercial green house 1 100,000
nursery 1 100,000
crops 1 50,000

     The Steering Committee wishes to thank the real estate participants for their patience and for sharing their expertise.

respectfully submitted by Michael Potts


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: : posted 6 September 1998 : 10:35 Caspar (Pacific) time : : printed with 100% recycled electrons!