On June 18^th, 2024 the Dana Point City Council voted to deny an appeal to the Victoria Boulevard Apartment project, and by doing so gave a final approval to the development agreement that had been negotiated with developer Toll Brothers for the 306-unit apartment building.

The project involves the demolition of the existing Capistrano Unified School District (CUSD) bus yard to construct an apartment building spanning two to six stories, with the sixth level providing rooftop recreational facilities; a six-story parking structure will also be attached.  Forty-six of the units will be reserved for low-income individuals.  The project also provides 141,540 SF of open space including a proposed community park – the Victoria Shore Park – along with a dog park and two public paseos.  Amenities include a rooftop garden, fitness center, clubhouse and pool deck.

KMA provided advisory services to the City of Dana Point, including the drafting and negotiation of a robust community benefits package ultimately agreed to by City, Developer and School District.  The CUSD approved terms of ground lease on April 17, 2024.

Community benefits include significant ground lease payments, estimated at roughly $40 million, to benefit the school district,   Additionally, the city will receive $6.3 million for city parks and recreation, park in-lieu and public art fees.  Approximately 1.5 acres of park and open space are provided on site, and utilities will be undergrounded.

The project has undergone several years of review and evolved in size and scope based on feedback from the public and City staff.  To facilitate planning for this catalyst project, the Victoria Boulevard Specific Plan was created.  Located in the culturally significant coastal Doheny Village neighborhood, the plan will guide design, development and implementation while preserving the area’s unique history.