New SB Condo Breed Inches Toward Reality

City Council Bestows Project With "Economic Development" Designation

Plans for a form of condos as yet unseen in Santa Barbara cleared a preliminary hurdle with the Santa Barbara City Council on Tuesday. The council bestowed the much coveted “Economic Development” designation on a proposal to build 50 350-square foot office condos at the corner of Victoria and Anacapa streets. In theory, the office condos would be owned outright rather than rented as is conventionally the case. City Hall staff like the plan the condos could provide much needed space for small start-up companies. The developers are also promising to equip the new structure with many eco-groovy amenities such as bike storage and alternative fuel refueling stations for hybrids. Without the Economic Development assignation, the developers fear they would be stymied by Measure E, the city’s slow growth ordinance that limits the amount of commercial square footage that can be released each year.


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