DANA POINT, CA – Developer, marina builder and operator, Bellwether Financial Group has received the marina California Coastal Commission development permit for the $330 million harbor revitalization.
The mixed-use project will completely reimagine Dana Point's 49-year-old harbor, by renovating the aging marina and constructing new restaurants, shops and hotels.
"Bellwether was instrumental in expediting the approval process due to this thoughtful approach," states Orange County supervisor, Lisa Bartlett. "It is impressive how efficiently and effectively Bellwether was able to facilitate what would be a very complex Coastal Commission process. The Dana Point Harbor Revitalization Plan is the result of more than 20 years of community collaboration, and we are thrilled to now have it underway."
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The partnership of Dana Point Harbor Partners, comprising Bellwether Financial Group, Burnham-Ward Properties and R.D. Olson Development will redevelop and operate the harbor. Under the public-private partnership, the developer will design, fund and build the improvements, then operate the harbor for the duration of the 66-year lease. The Bellwether-owned entity, Bellingham Marine will develop and build the marina, while sister company, Bellport will oversee operations.
New plans for the marina include switching the parking and retail space, so that retail, hotels and public parks will be on the waterfront. The plans will allow the public to access the docks and newly created public areas.
"Our plan includes protection of marine life, commitment to water quality and expanding public access," says Joe Ueberroth, founder and president of Bellwether Financial Group and chairman and CEO of Bellingham Marine. "The dock system innovation by Bellingham Marine will eliminate all treated wood and includes technology that removes all ferrous metals, ensuring longer dock life, while ridding the environment of those toxic materials."
Bellwether Financial Group will also implement an educational, sailing and water sport program, Environment Justice, for underserved youth in Orange County. The company is partnering with community organizations to provide 1,000 youths with sailing, ocean education programs, whale watching, swimming lessons and various water activities.
"We have a once in a lifetime opportunity to revitalize this iconic Orange County asset and create a destination for generations to come," says Ueberroth. "As the result of carefully listening to the Coastal Commission and boating community, we received a unanimous vote of approval."
With the Coastal Commission's approval, Bellwether Financial Group will finalize construction plans and obtain city and country permits, before commencing construction in late 2022.
The revitalization of Dana Point Harbor is set expected to be complete in 2026.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
