One of the three "Villages of Fairbanks", Montecito, a gated community, was constructed in 1984, the same time as the Olympic Equestrian Endurance event nearby at what is now Fairbanks Ranch Golf Course. Builder Ray Watt and architect Buzzard-Henning designed these smaller Spanish Mediterranean homes for singles and retired couples. The three floor plans range from 2,200 to 3,000 square feet. Prices start over $1 million. There are monthly homeowner's association dues which pay for a community pool and exercise facility. School districts are Solana Beach Elementary, Earl Warren Middle, and Torrey Pines High School or San Dieguito Academy.

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