131-Acre, mixed-use community receives approval in San Luis Obispo
Presidio Residential Capital and Coastal Community Builders received approval from the San Luis Obispo City Council to develop San Luis Ranch, a 131-acre farm-to-table community in San Luis Obispo.
The joint venture project includes 580 residential homes, 150,000 square feet of commercial space, 100,000 square feet of office space, and a 200-room hotel.
The partners expect to break ground in the first quarter of 2019 with the delivery of a 10-acre multifamily site, and all the commercial and hotel pads in the second and third quarters of 2019, the Dec. 18 news release stated. Construction on the 281 planned single-family lots is slated to start in the third quarter of 2019.
“San Luis Obispo desperately needs workforce housing, and this new community will address that need,” said President of Coastal Community Builders, Gary Grossman in the release. “San Luis Ranch will offer diverse housing opportunities, parks and open space and an organic working farm where SLO locals can experience a true farm-to-table lifestyle. Our residents will have everything they need in one exceptional community.”
The community of 580 homes will include single-family detached and multifamily homes, and an undisclosed, but “significant number” of the homes will be affordable housing units, the release stated.
San Luis Ranch will adhere to the State of CA Zero Net Energy (ZNE) mandate, according to the release. The homes will offer energy efficient and environmentally friendly features, including solar panels, Energy Star-certified appliances and lighting, tankless water heaters, low-flow plumbing and natural, edible landscaping.
More than 50 percent of the pedestrian-oriented community will be parkland, open space and agricultural land with a working organic farm and learning center, community gardens, a recreation and fitness loop and several parks and picnic areas. There will be walking and bike lanes throughout the project as well as electric car-charging stations and bicycle parking.
The site is less than three miles from downtown San Luis Obispo and near Cal Poly and the San Luis Obispo County Regional Airport.
Presidio is a real estate investment company based in San Diego, and California housing development company Coastal Community Builders has a sales office in Pismo Beach.
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