Garden Del Mar on market for $5.5M

The Garden Del Mar property is up for sale for $5.5 million.

“We informally put it on the market with the approved plans to see if anybody else would step up to the plate,” said Doug Springer of Del Mar Realty Associates.

Nick Schaar and Bryn Stroyke, the developers who oversaw the design of the project and worked through the lengthy specific plan process for the site would still like to build it, Springer said. However, they have had difficulty securing financing due to the recession.

Springer said he has proposals out to investors, which would allow Schaar and Stroyke to move forward with the project, but is also open to another developer making an offer to develop it themselves.

For more information, call Doug Springer at (858) 755-6288.