Neighborhood Spotlight: Corona del Mar a tony enclave with the soul of a seaside village
Once a remote seaside village known for its prodigious waves and not much else, Corona del Mar is now one of Newport Beach’s most sought-after luxury addresses. Everyone from the putatively “Real” Housewives of Orange County to the considerably less-real Bluth family of “Arrested Development” call the area home.
Originally part of the Irvine family’s extensive holdings, the bluffs and beaches on the east side of the entrance to Newport Harbor were purchased in the early 1900s by developer George Hart.
He laid out the original street grid and brought utilities to the tiny hamlet, which he first saddled with the drably pedestrian name “Rocky Point.” A few years later, broke and exhausted, he cashed out and headed inland to raise cattle, leaving the next owner of the town to permanently give it the name Corona del Mar.
From the 1910s to the 1930s, surfers were drawn here to the pummeling wave action at Corona del Mar beach, spurred on by news accounts of pioneering longboarding legend Duke Kahanamoku’s trip through the region in 1912.
The curving arc of the beach created monster breakers that were considered to be on par with those of Waikiki, but a history of tragic boating accidents at the mouth of Newport Harbor (including one wreck in which Duke himself rescued eight fishermen) led to the construction of a jetty, which improved safety at the cost of the big waves.
Hollywood came calling, too, with location scouts and movie stars alike drawn by the picturesque cliffs and turquoise waters. But the Depression rocked the village hard, causing a wave of foreclosures that effectively quashed development on the bluffs for decades.
In the 1970s, Corona del Mar began to emerge from its long malaise as Newport Beach increasingly became a center of commerce for coastal Orange County. Corona del Mar’s proximity to the ocean and the new developments of Newport Center and Fashion Island made it a popular destination for young families.
Today, Corona del Mar still has the vibe of a small seaside village, albeit an incredibly expensive one.
Neighborhood highlights
A walkable O.C. oasis: The PCH shopping district, beaches and scenic outlooks such as Inspiration Point are all within blocks of each other.
A village between the city … : Quaint neighborhood haunts such as Five Crowns steakhouse, the Port theater, and the Sherman Library and Gardens give Corona del Mar a welcome small-town feel.
… and the sea: There are plenty of beaches, bluffs and coves from which to admire or dive into the blue waters of the jetty-tamed Pacific, not to mention some of the best O.C. tide pools not in Laguna Beach.
Neighborhood challenges
Small lots, big prices: CdM’s small lots and lack of land for new development means 1,000-square-foot homes can go for well above $2 million.
Expert insight
Joan Marcus-Colvin, chief marketing officer of the New Home Co. and longtime area resident, points to walkability as one Corona del Mar’s biggest selling points.
“As a home builder, it’s my job to understand what makes a neighborhood great, and for people of all ages, it’s critical to be able to walk places,” Marcus-Colvin said.
Staying close to home means never having to use her car, she added. Local restaurants, groceries and even the hardware store are all just a short walk away, as is access to Crystal Cove State Park, which features miles of trails set along the coastline.
Market snapshot
In August, based on 24 sales, the median price for combined single-family home and condominium sales in Corona del Mar was about $2.137 million, according to CoreLogic. That was a 3.9% decrease in price year over year.
Report card
Corona del Mar, part of the Newport-Mesa Unified School District, includes Harbor View Elementary and Abraham Lincoln Elementary, which scored 937 and 919, respectively, out of 1,000 in the 2013 Academic Performance Index. Corona del Mar Middle and High School, serving grades seven through 12, had a score of 902.
