LA JOLLA – A Newport Beach developer, Westerre, is about to start construction of a La Jolla condominium project estimated to cost about $16.5 million.
Westerre has also finished leasing apartments in a $17.5 million complex that it built in late 2023 in La Jolla at 801 Pearl St.
The sites of both projects were once gas stations.
La Jolla Beach House at 6710 La Jolla Blvd. will be within a quarter mile of Windansea Beach and will have 11 market-rate units and one affordable unit in a mix of one-bedroom units averaging 600 square feet and two-bedroom units averaging 1,200 square feet, said JP Secousse, a partner in Westerre.
Partner
Westerre
Four of the two-bedroom units are about 1,400 square feet with rooftop decks overlooking Windansea Beach.
“I wouldn’t call it a blue water, fully open (view), but you’ll be above most of the rooftops there, and so, you have a pretty decent view of the ocean,” Secousse said.
Construction is scheduled to start this month and finish in the first quarter of 2026, Secousse said.
Pricing hasn’t been set, but Secousee said that prices will like start “in the low $1 million range and top out in the “high or low twos.”
“A little of that will depend on where the market is in a year and a half,” Secousee said.
Mediterranean Look
Designed by AVRP Studios, based in East Village, and Danielian Associates, based in Irvine, the two-story La Jolla Beach House will have a Mediterranean look with a white façade.
“We wanted to fit in with the Spanish influence, Mediterranean-influenced coastal architecture in the area,” Secousse said.
“We haven’t finalized the interior finish spec for this project,” Secousse said. “That’s something that we typically do as we get under way on construction. But as an example, we just finished a project in Huntington Beach that has stone countertops, Bertazzoni appliance packages, full backsplashes, and upgraded plumbing and lighting fixtures.”
Based on the sales in other condo projects that Westerre has built, Secousse said that likely buyers will be a mix of young professionals, second-home buyers and empty nesters who are downsizing.
“Maybe they were up on a hill in La Jolla and no longer need the larger home,” Secousse said.
Niche Market
Secousse said the condo market is in flux, but “So far, the market has held up pretty well,” adding that that’s particularly true in coastal Southern California.
“Our primary target area is coastal infill markets, whether they be 100% residential or have a mixed-use component to them. That’s our niche,” Secousse said. “We anticipate that market to hold for the foreseeable future. In coastal La Jolla, there’s really nothing as far as new inventory.”
Managing Director
Concord Summit Capital
The apartment building that Westerre finished in November at 801 Pearl St. is on a half-acre site that was once a Union 76 gas station, Secousse said.
The project has 26 apartments and 3,500 square feet of ground-floor retail.
As of late August, 93% of the apartments had been leased.
Concord Summit Capital, based in Beverly Hills, arranged a $14.5 million loan for construction of the beach house.
“This is another great project from the Westerre development team in Southern California,” said Tyler Beauregard, managing director of Concord Summit.
“Given the project’s location in La Jolla and the sponsor’s (Westerre) track record for quality execution on high-end condominium developments, there was significant interest from the construction lending community,” Beauregard said.n
Westerre
FOUNDED: 2021
HEADQUARTERS: Newport Beach
PARTNERS: JP Secousse, Alejandro Garibay and Arnold DeLeon
BUSINESS: housing development
EMPLOYEES: 6
WEBSITE: www.westerre.com
CONTACT: 949-445-1056
NOTABLE: Westerre is a mixed-use developer focused on Southern California coastal markets
