GRANT KEENE
CEO, WJK DEVELOPMENT
WHY: WJK Development made a rare purchase of coastal property for residential uses in Laguna Niguel, when it bought a 4.2-acre site in the city earlier this year. Said barriers to entry for coastal residential development in Laguna Niguel are high, usually due to high construction costs, low availability for vacant or redevelopment sites and community opposition.
IN THE NEWS: WJK Development paid $6M for a 4.2-acre site in Laguna Niguel and $10.3M for an oceanfront landsite in Huntington Beach. Plans to build nearly two-dozen new houses at the Laguna Niguel site and 10 houses at the Huntington Beach location.
NOTABLE: Has been focusing on Huntington Beach recently. WJK Development recently completed more than 30 tall and skinny houses in Surf City.
QUOTABLE: “Huntington Beach is the most undervalued coastal real estate market in OC.”
