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June 18, 2024
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Presidio Residential Capital and Williams Homes Acquire Land for 33 Housing Units in Southeastern San Luis Obispo


Presidio Residential Capital and Williams Homes recently acquired property in southeastern San Luis Obispo to build the first 33 units of a 113-unit community called The Arroyos at Righetti. This new neighborhood will be part of Righetti, a 165-acre, mixed-use development, which will have a broad range of product types, sizes and price points to serve the housing needs for the overall community.

The community is two miles southeast of downtown San Luis Obispo and 3.5 miles southeast of Cal Poly University in the Orcutt Specific Plan Area, which seeks to protect natural resources while adding much-needed housing. Major retailers are a half of a mile away, and the community is close to the Union Pacific Railroad, a park and open space.

The 113 homes in The Arroyos at Righetti community will be built on 5k sf lots and feature Farmhouse, Mission, Craftsman and Bungalow styling. These three to four-bedroom homes will range from 1.6k sf to 2.4k sf in size, with prices starting in the high $700,000s.

The master-planned development will include a neighborhood park with tennis and basketball courts, a soccer field, pickle ball and a playground. A pocket park will offer a climbing wall, barbecue and picnic stations and a linear park with a community garden, playground, picnic tables and a produce stand.

According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 113 single-family homes will generate $32.4 mil in local income, $4 mil in taxes and other revenue for local governments and 445 local jobs.

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