


Sanford Edward, developer of The Strand at the Dana Point headlands, said he expects to gross around $680 million after selling all 118 ocean-view lots in the development and building a 90-room hotel.
Edward, who hosted a grand opening ceremony for the project Wednesday night, declined to say how much he paid for the 121-acre oceanfront land when he bought it 10 years ago from the Chandler family.
The Chandlers, former owners of the Los Angeles Times, spent 20 years trying to get approval to develop homes on what is now Orange County’s last beachfront housing project. In the early 1990s, the Chandlers sought to build 370 homes and a 400-room hotel, he said.
Edward said he succeeded with his down-sized project because of the help he got from financial partners and because of a grass-roots organization, Headlands Today, formed to build support for the project at a time local activists fought the development.
Edward, a Los Angeles County native who attended UCLA and Harvard before becoming a land developer, said the project is 80% complete.
So far, 33 home sites have been sold, with gross sales totaling $93 million, company officials said. One lot, which sold for $9 million last summer, is believed to have fetched a record price in Orange County for an undeveloped home site.
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