A 23-acre, ocean-view property in Avila Beach may be the site of a 50-room boutique hotel, following its purchase by Somera Capital Management and Postcard Properties this month.
The Santa Barbara-based firms bought the undeveloped property located near San Luis Bay Inn from local developer Rob Rossi for $2.4 million, according to Michelle Blasingame of Richardson Properties, which managed the deal.
Neither company is releasing information about the proposed development, other than that the site was already zoned for a hotel.
Over the next several months, we will be studying our options and look forward to sharing these with the community, Somera Capital Management President and CEO David Brown wrote in an email to The Tribune. We are all very excited to be involved in Avila Beach and San Luis Obispo County and to becoming a part of the areas future.
The project would require a development permit from the county.
The buyers are also in the process of getting approval for a 108-room hotel at the base of the pier in Pismo Beach, according to a Richardson Properties news release.
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