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June 24, 2024
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San Luis Obispo City Council Approves 131-Acre Mixed-Use Development to Include Homes, Office Space, a Hotel & More


Presidio Residential Capital and Coastal Community Builders expect to break ground on San Luis Ranch in the first quarter of 2019

Presidio Residential Capital and Coastal Community Builders have received approval from the San Luis Obispo City Council to develop San Luis Ranch, a 131-acre farm-to-table community featuring 580 residential homes, 150k sf of commercial space, 100k sf 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 quarter of 2019. 281 single family lots will be brought to a condition where home construction could commence starting in the third quarter of 2019.

“San Luis Obispo desperately needs workforce housing and this new community will address that need,” said Coastal Community Builders’ President Gary Grossman. “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. A significant number of the homes will be affordable housing units. San Luis Ranch will be in the forefront of the State of CA Zero Net Energy (ZNE) mandate. The homes will offer many 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% 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, halfway between San Francisco and Los Angeles. It is an easy commute to California Polytechnic State University in SLO and the San Luis Obispo County Regional Airport.

This is a joint venture project with Presidio Residential Capital, a San Diego-based real estate investment company.

According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 580 homes will generate $166.5 mil in local income, $164.4 mil in taxes and other revenue for local governments and 2,285 local jobs.

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