Editor's note: An earlier version of this story included prices of homes in the developments. Those prices have been removed because of conflicting information from sources.
Two new development projects are taking shape in Pismo Beach, bringing a flurry of residential and commercial building activity to the South County beach community.
Coastal Community Builders, a San Luis Obispo County-based company led by developer Gary Grossman, is building Vistas at Pismo Village, in the heart of downtown Pismo Beach at the corner of Price Street and Wadsworth Avenue, and The Village at Pacific West, located off Oak Park Boulevard.
The Vistas at Pismo Village consist of 32 townhomes — 16 of them detached single-family and 16 attached. Two commercial buildings, each about 2,300 square feet, will be built along Price Street, and Grossman said he's negotiating with a yet-to-be-announced tenant for one of the restaurant/retail spaces.
"We're aiming for a sports, burger and beer restaurant, but kind of a higher end," he said. "People are looking at Price Street continuing to become a restaurant row. There will be courtyards and outdoor seating there."
The three-level homes range from about 1,300 to 1,500 square feet and will have three bedrooms and roof decks. The architectural style will vary from modern to early California craftsman.
So far, seven of the homes have sold, said Grossman, primarily to young, local professionals as well as retirees and some people wanting second homes.
"We really wanted to do something to spark a new vision for downtown," said Grossman, who expects the entire project to be complete in 12 to 18 months.
Further inland, the developer has embarked on The Village at Pacific West, a 10-acre site with 37 detached single-family homes, 36 condominium units — 12 slated to be affordable — in three separate buildings. As well, a pad large enough for a 4,000-square-foot restaurant is located adjacent to Oak Park Boulevard, and the project also will include a 105-unit hotel.
"We're in negotiations with a high-brand tenant," said Grossman, who declined to disclose additional details. "It's a very good, qualified group that owns and operates really nice hotels."
The Spanish Mission-style homes, at roughly 1,500 square feet, are designed for young professionals and those with families. The houses are three and four bedrooms with two-car garages, driveways and backyards, and "they all circle around a cute park that's private for them," Grossman said.
The project should be completed in the next year to 18 months.
Grossman, who said he has invested "in the millions of dollars on these two projects," is bullish about commercial and residential development throughout San Luis Obispo County.
Both of the Pismo Beach projects are helping to ease the pent-up demand brought about by the recession, said Grossman, noting that there are more than 100 people on the waiting lists for the homes.
Young people, many of whom were shut out of the home-buying market during tough economic times, have saved up and are now in a better position to make a purchase. He added that the Central Coast is increasingly home to head-of-household jobs in technology and agriculture, and that many people continue to choose San Luis Obispo County as a place to retire.
Coastal Community Builders has built more than 2,000 homes on the Central Coast since 1988 and has 21 projects ongoing from Atascadero to Solvang.