Rockview Close, a condominium project in San Luis Obispo that stalled when its builder fell into bankruptcy, is again under construction.
The nine-unit condo complex at Rockview Place off Broad Street is nearly complete six years after it began. The city is expected to sign off on the project in the next four to six weeks, said local Realtor Lisa J. Lewis.
Lewis said the units are for sale and priced at $415,000 to $645,000.
The project began in 2005 and was previously developed by local builder David Andrew “Andy” Fetyko. Fetyko, a borrower of the hard-money lender Estate Financial, filed for Chapter 7 bankruptcy protection in 2009.
In 2009, The Tribune reported that Fetyko owed $5.7 million on the then-stalled project. At the time, six of the nine condominium units had been framed. The buildings had been wrapped with plastic to protect them from the elements, and Estate Financial trustees put the buildings up for sale for $2.5 million.
The property continues to be managed and controlled by Los Angeles-based Thomas P. Jeremiassen, the Chapter 11 trustee for Estate Financial.
Ktesio Development Co. of San Luis Obispo is completing the building of the complex, said Mel McColloch, the agent for the Estate Financial trustee who hired Ktesio to do the work.
Construction resumed in October or November of last year after the project sat untouched since July or August of 2007, he said. Contractors had to replace deteriorating wood and complete framing on a few of the units, he said. It took about $1.2 million to finish the project, which now includes high-end touches, McColloch noted.