South Cove FAQs
April 21, 2017
WHAT MAKES THIS COMMUNITY SPECIAL?
South Cove is Dana Point’s only barefoot community that exudes laid-back luxury in a highly coveted coastal setting. This is the first community of its kind in Dana Point in over 25 years. Located on Pacific Coast Highway & Del Obispo, South Cove offers immediate access to Dana Point Harbor and Doheny State Beach.
South Cove offers 1, 2 and 3 story flats, townhomes and twin homes, all with attached garages. Ranging from 883 to 2,126 SQ FT, these homes feature balconies, rooftop decks, ocean views and highly appointed interior finishes.
WHEN IS SOUTH COVE OPENING?
South Cove is scheduled to open models in the heart of Summer 2017. Homeowners will be able to move in soon after.
HOW IS SOUTH COVE IMPROVING THE COMMUNITY?
Dana Point is the birthplace of surf industry and has a storied legacy full of surf and beach culture. South Cove along with the City of Dana Point have entered into a public/private partnership to build a public park to give the entrance to the city the recognition it deserves.
The public plaza fronting Pacific Coast Highway that boarders South Cove will feature 10 life size sculptures of famous surfers from the area, created by Bill Limebrook. There is also a full scale Hobie Cat sculpture planned by artist Lance Jost, to memorialize Dana Point legend Hobart Alter, inventor of the foam surfboard. For more details about the park, check out our blog at www.LiveSouthCove.com/Blog, there has been a ton of local news coverage released and we will keep you up to date on all new information on the blog and via our email newsletters.
WHEN WILL YOU BEGIN TO SELL HOMES?
When we launch the pre-sales program, we will contact our entire interest list via email with information about our pre-approval procedures and how to get ready for purchase. At that time, we will release specific information about pricing and floor plan availability.
WHAT HOMES WILL BE RELEASED?
We are releasing Phase I and Phase II for pre-sale while the community is still under construction. See the site map to see where Phase I & Phase II homes are located. These homes will be ready for move in starting in late summer, through the end of 2017.
There are 28 homes available for purchase in Phase I & Phase II, plus 6 homes designated as Income Qualified (Affordable). More information on the Income Qualified Homes to follow.
WHAT IS YOUR PRICING?
We reserve the right to release pricing when we release homes for purchase. The first two phases will be fully upgraded with designer selected finish packages and additional options. Offering the homes finishes allows for homeowners to be able to move in sooner!
Here are general price ranges:
Trestles 883 & Trestles 900: From the high $500s
Trestles 1418, Aliso 1469 & Aliso 1706: From the high $800s
Aliso 1794, Aliso 1930, Trestles 1995 & Trestles 2126: From the low $1 millions
Strands 2030 & 2038: From the mid $1 millions
WHAT ARE THE HOA DUES?
The HOA dues cover: Common area landscaping, workout stations, a resort-style pool and spa with cabanas, pool bathrooms with dressing areas and dressing rooms, exterior maintenance of buildings, insurance on buildings and common areas and more.
The estimated HOA dues at build out are between $304-$398 per month. The estimated tax rate is 1.01195%. There is no CFD and there are no Mello Roos.
DO I NEED A REAL ESTATE AGENT TO PURCHASE A NEW HOME?
Our sales team will assist you before, during and after your new home purchase. The choice to work with a real estate agent is your own, but our sales team is here to help you through the entire process whether you choose to use an agent or not. If you do use an agent, you both must register at the time of first contact with the South Cove sales team by signing a broker registration form.
I’M A BROKER, WHAT DO I NEED TO DO TO REGISTER MY CLIENT?
We do honor broker co-op; please click here to download a broker registration form. If you are a client that is using a real estate agent, you must submit a broker registration form at the time along with your pre-approval paperwork. It needs to be signed by both parties.
WHAT ARE THESE ‘AFFORDABLE’ HOMES I’VE HEARD ABOUT?
South Cove will have 17 1 bedroom residences designated as “Income Qualified homes.” These homes are 883-900 SQ FT and offered throughout the community. The process of approval for the Income Qualified homes will be dictated by the City of Dana Point; for more information, visit IncomeQualifiedDanaPoint.com.
I AM INTERESTED IN A LIVE/WORK RESIDENCE, WHAT DO I NEED TO KNOW?
There will be 10 live/work residences available in phases 5 and 9, fronting the westerly park plaza on Pacific Coast Highway. You can see plans and locations on the community site plan on the website. Uses and restrictions will be subject to the CC&Rs and the city of Dana Point. More information will be released when they go to sale, but remember, the earlier you get pre-approved, the better chance you have to get the home you want!
WHAT AMENITIES ARE INCLUDED?
The most treasured amenity is the city of Dana Point itself. The access to walking trails, connected park system, the harbor, beach, restaurants and shops are all easily accessible to South Cove homeowners and allow for true barefoot living. Included in the community are a resort-style pool and spa, pool cabanas with baths and dressing areas, workout stations and trails and of course, the public park plaza fronting Pacific Coast Highway.
WHEN CAN I TOUR THE HOMES?
Our models and sales center will open in summer 2017. We are pre-selling the homes in Phase I & Phase II while under construction, and we will offer tours of the community by appointment only for pre-approved buyers ONLY. Our Sales Team will contact Pre-Approved buyers to schedule a private tour.
ONCE I AM PRE-APPROVED, HOW DO I KNOW MY POSITION ON THE PRIORITY LIST?
You will not be issued a specific number or guaranteed a specific spot. The Sales Team will contact pre-approved buyers in the order they are pre-approved by Wells Fargo, meaning the sooner you get you information submitted and get approved, the more options you will have! The sales team will contact pre-approved buyers when we are ready to sell the homes that correspond with your general position.
Keep in mind that the list of pre-approved buyers is a living, breathing list. It may grow and shrink due to many influences. As an example, the seller reserves the right to offer homes to VIP’s at any time. Cash buyers will supersede non-cash. Non-contingent buyers will supersede contingent buyers.
I AM INTERESTED IN A LATER PHASE. WHAT DO I DO?
Don’t wait to get pre-approved, you still want to do that NOW! You can choose to pass on this Phase and stay on the list in your position for future phases.
WHAT WILL THE PRICES BE IN LATER PHASE?
Pricing will be released at the time each Phase is available for sale.
I HAVE SUBMITTED MY PRE-APPROVAL FORM BUT HAVEN’T HEARD ANYTHING YET?
Please bear with us! We are experiencing a tremendous amount of interest in South Cove. Our Sales Team will contact people in the order that we receive the pre-approval from Wells Fargo.
THE HOMES ARE BEING SOLD BEFORE THEY ARE FINISHED AND WITHOUT A MODEL. IF I DON’T LIKE MY HOME ONCE IT IS DONE MAY I CANCEL AND GET MY DEPOSIT BACK?
The homes are not being sold contingent upon approval at completion. We are sure you will love your home when you see it!
CAN I CHANGE OR CUSTOMIZE MY HOME?
The homes in Phase I & Phase II have designer selected finish packages and options added to them already. This allows our homeowners to move in sooner, rather than having to wait! In the first two phases, we cannot accommodate design package, option or appliance changes. You will be able to add and customize window coverings and a washer/dryer through our options program if you purchase a home in Phase I or Phase II.
CAN I RENT MY HOME AFTER PURCHASE?
Yes, but there are restrictions. Homes may be rented for a minimum of 30 days. Seller reserves the right to limit the number of non-owner occupied units. Purchasers will be given a complete set of CC&Rs and a Residential Handbook to review.