First Multifamily Arrives in Santa Barbara

The property has 89 units and ground floor retail space.

SANTA BARBARA, CA—The Kor Group has partnered with REthink Development and affiliates of Westport Capital Partners LLC to bring the first multifamily development in nearly 30 years to the Santa Barbara marketplace. The Marc is an 89-unit luxury development, rich in amenities and with a design slant toward indoor-outdoor living. The $40 million project is scheduled to open in September of this year.

“We have been building up and down the coast, and we jumped at the opportunity to partner up with Rethink Development to develop this property,” Tripp DuBois, VP of sales and marketing at the Kor Group, tells GlobeSt.com. “We have looked at a number of opportunities up there, including hospitality and multifamily opportunities on the outskirts of Santa Barbara, and it hasn’t made sense. This was a no brainer for us. We have had great community support and great local support. In general, folks are excited to have new housing opportunities in the area, especially with this coveted address on State Street. It has been really well received.”