Retail and Hospitality Updates

This is a second installment of my retail and hospitality offerings in Montecito and our constantly upscaling neighbor, Carpinteria.

Just in from Friday, July 31, I have an official statement from James Rosenfield, owner of the Montecito Country Mart on the car crash into Toy Crazy that happened on July 28. Rosenfield, “We’re so glad that Monday’s accident didn’t result in any serious physical injuries and no one had to be taken to the hospital. The physical damage is being repaired and Toy Crazy remains open for customers”.

I stopped by the MCM, and the front of Toy Crazy is boarded up while repairs are being configured. To shop the store, enter from its courtyard door.

Next  is the ever-upgrading landscape of downtown Carpinteria, the baby brother of Coast Village Road with a beach. Linden Avenue, once a surfer’s laid-back haven with quick bites, continues to transform its roots with upscale restaurants and shops. In the past year, it is the second home to established Montecito and Funk Zone SB retail and hospitality offerings, with Bettina’s new iteration, Tina’s; Alma Fonda Fina’s Corazón Cocina Sur; and second locations for Third Window Brewing; Macher; DART Coffee; The Shopkeeper; Channel Islands Surfboards, and Summerland’s The Nugget. and soon to arrive, Field and Fort’s The Larder at 1033 Casitas Pass Road.

New local business owners, Mark Armenante and Young Sohn of San Francisco (with NYC nephew Ryan Sohn), started construction on The Palms in June.

New business owners from out of town are from Los Angeles (Warner Ebbink and Executive Chef Brandon Boudet of Little Dom’s); Ojai (Larry “Lorenzo” Nicola of Ojai Rôtie); New York (Ryan Sohn, The Rincon Market); and Washington State (Arnie’s Rooftop Bar).

Seems there is some hospitality industry FOMO heading in to try their hand at prime real estate spots in lovely downtown Carpinteria.

Reading through respected realtor industry specialists, Goodwin & Thyne Properties’ (GTP) webpage devoted to Carpinteria, we find a review of the businesses, and advice. A special nod to GTP, Montecito Journal’s longtime real estate property advertiser!

GTP has the verbiage dialed in, “A stacked-use building spreads risk across three price points inside one address. The Palms building will house three establishments: a fun, casual take on Korean barbecue with a grill-your-own option on the ground floor (a nod to the original Palms where one cooked their own steak), fine dining on the second floor, skylight atrium through the building’s center, and a rooftop bar.” 

GTP also mentions The Rincon Rooms and Restaurant on 4745 Carpinteria Avenue, with same density principle as Linden Avenue, building in, not out.The Rincon Rooms mixed use apartment/vacay rentals/restaurant at 4745 Carpinteria Avenue houses 24 apartments called The Rincon, a six-room vacation rental hotel called The Rincon Rooms, and a street-level restaurant TBA.

In sum, the “DTCarp-caveat” is both venditor and emptor, for property sellers and buyers to be aware of what’s being projected.

I predict that questions remain concerning revolving door businesses leaving DTCarp either thriving or surviving, increases in tax base for hospitality, and the estimating of real estate values as the hot topic for the next five years. Your thoughts? 

Till next week loves! Xx JAC  

411: https://gtprop.com