Presidio Residential Capital and partners to build multifamily communities in San Luis Obispo


Development firm Presidio Residential Capital has announced plans for a collection of 296 townhomes, condominiums and condos to be built at The Orchard, a multifamily neighbourhood in the mixed-use development of San Luis Ranch in San Luis Obispo, California.

The Orchard will feature three projects with distinct designs and price ranges to be constructed by Presidio’s joint venture partners Coastal Community Builders (CCB) and Williams Homes.

CCB will construct Harvest Vista, which will feature 96 condominiums, while Williams Homes will build Fig, a collection of 80 townhomes.

Another neighbourhood called Harvest Lofts with 120 condos is also planned for development in the future.

Currently, improvement works on the site are underway on the 11-acre parcel of land, with model construction expected to commence in spring 2021.

The total value of these three communities, situated at 1035 Madonna Road, is estimated at $150m.

Presidio co-principal Don Faye said: "These well-thought-out communities are ideal for young families, first time homebuyers and even retirees looking to downsize. The neighborhoods offer low-maintenance living at the center of an exciting ‘farm-to-table’ community concept."

CCB's Harvest Vista community will feature two- to three-bedroom plans ranging from 950 to 1,140ft2, with prices from $400,000. The second community, Fig, will feature farmhouse-inspired townhomes presented by Williams Homes. It will have three-bedroom, two- to three-story open concept designs ranging from 1,346 to 1,501ft2.

Claimed to be suited for young professionals, couples and those looking for affordable option, Harvest Lofts  will feature studio and one-bedroom plans, ranging from 380 to 580ft2 and with prices projected to start from the mid $300,000.

San Luis Ranch is claimed to be the first farm-to-table community on Central Coast of California.

The master plan has more than 50 acres of agricultural land and open space to preserve the area's eco-system.

The 131-acre master planned community will feature 150,000ft2 of retail space; 100,000ft2 of office space; a four-storey, 200-room hotel; and a total of 580 residential homes.


The total value of these three communities, situated at 1035 Madonna Road, is estimated at $150m. (Credit: PR Newswire Association LLC.)

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