The Funk Zone
Santa Barbara, CA
This former industrial area spanning Highway 101 and the Santa Barbara coastline presented a prime opportunity to acquire and repurpose a truly unique location. In 2006, Eastern began to acquire multiple properties in the area. Through thoughtful relationship development and diligent efforts with city zoning regulators, Eastern was able to rehab and reposition the area as an artsy, eclectic food and wine destination.
The project was a transformational repurposing of this once neglected area representing place making at its finest. Funk Zone is now the #1 tourist destination in Santa Barbara.
Eastern has harvested a majority its investment through multiple one-off sales but maintains ownership in a select group of assets.