Don’t ruin Del Mar — Vote ‘No’ on prop J
Your “YES” vote on Del Mar Prop J could mean an immediate tripling in the value of the land under our commercial property at 11th & Camino Del Mar. How so?
The value of commercial property, unlike residential, is based on the return on the investment. Rental income is based on the floor area of building rented. Since the floor area ratio currently on our property is only 29 percent, Prop J would allow an increase in the FAR to at least 100 percent — an increase of 245 percent. And the value, as well.
We should be voting “Yes,” but let me tell you why we are voting “No.”
We have lived immediately next door to our commercial property since 1964, and we believe the planned changes to the downtown will destroy the small-scale livability we have enjoyed in Del Mar, lower the value of our home and really be bad for business.
We believe changes to the main street would create more havoc there and on our side street, with whatever traffic and parking solutions they might provide. There is call for more restaurants along the entire six blocks, creating more smells, rats, late night noise, etc.
We can live with whatever replaces this proposed Plan. Vote “No” on Prop J.