The San Luis Obispo, Calif. City Council has approved the development proposal for San Luis Ranch, a joint venture between Coastal Community Builders and Presidio Residential Capital. At full buildout, the farm-to-table community will contain 580 homes, 150,000 square feet of commercial space, 100,000 square feet of office space, and a 200-room hotel on a 131-acre site.
The community’s first 10-acre multifamily phase is expected to break ground in the first quarter of 2019, followed by commercial and hotel groundbreakings in the second and third quarter. Home construction could commence on 281 single-family lots in the third quarter of 2019.
The 580-unit total will include both single-family and multifamily homes, including a number of affordable housing units. Each home will include ENERGY STAR-certified appliances and lighting, solar energy systems, low-flow plumbing, and natural edible landscaping.
More than 50% of the grounds will be preserved as parkland, open space, and agricultural land. A working organic farm and learning center will be located on-site. Amenities will include community gardens, walking and biking paths, EV charging stations and bicycle parking.
“San Luis Obispo desperately needs workforce housing and this new community will address that need,” says 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.”
Based on the National Association of Home Builders’ single-family housing impact formula, the community’s new single- and multifamily residential units are expected to create $166.5 million in local income, $164.4 million in taxes and other revenue, and 2,285 local jobs.
