The Peninsula Open Space Trust has agreed to purchase Wavecrest — a 216-acre property off Cabrillo Highway on the southern tip of Half Moon Bay — to protect it for environmental and recreational purposes, POST announced Aug. 16.
The landowners decided that substantial development there was not appropriate, said Bruce Russell, CEO of Kenmark Real Estate Group and representative of the landowners.
The purchase price was not disclosed. The owners asked to keep the price confidential until escrow closes, likely at the end of the year, said Audrey Rust, president and CEO of POST.
“Wavecrest is a breathtaking window to the Pacific Ocean,” she said in a press release. “This agreement will help preserve the rural coastside character of the Half Moon Bay area for countless generations to come.”
Ms. Rust called Wavecrest a “stunning seaside property” that provides a vital link to the California Coastal Trail. People are drawn there, she said, by recreational opportunities other than hiking, including baseball, horseshoes and dog-walking.
For 30 years, the owners of the land considered plans for developing the property, including projects raging up to 600 housing units, Ms. Rust said.
“Although the purchase is not finalized, POST and the landowners decided to announce the agreement because of compelling public interest in the Wavecrest area, which includes recreational opportunities and protected habitat,” the press release said.
