A deal has been reached on an undeveloped, 24-acre plot of land in Malibu dubbed the “Crummer Trust.” The site, on 21200 Pacific Coast Highway, adjacent to Malibu Bluffs Park, was sold to developer (and Unvarnished founder) Scott Gillen for $50 million.

Gillen intends to build five large, single-family homes on the plot, all ranging from 10,500 square feet up to 13,500 square feet. Individual lots will each take up between 2.45 and 5.78 acres.

Architect Richard Landry will take on the design of the new gated area, which features 360-degree views of both the nearby mountains and the Pacific Ocean. Landry owns Landry Design Group, which specializes in custom, high-end residential architecture. Some of his recent projects in Los Angeles (where he’s based) include both modern and classic designs around Los Angeles County. He’s designed homes for celebrities such as Tom Brady, Dr. Dre, and Rod Stewart, among others.

In 2010, the City of Malibu requested a change with the California Coastal Commission to allow for a mix of residential and recreational use on the Crummer Trust property. Prior to that change, which was adopted with suggestions from the council, the 24-acre plot was only for commercial visitor-serving use. The amendment from the City of Malibu provided for the development of multiple beachfront homes, as long as a portion of the parcel was left for visitor-serving purposes.