A new development that will bring 67 new single-family homes and 105 apartments to the Orcutt Road area of San Luis Obispo broke ground Thursday.
The project is being led by San Luis Obispo-based construction company Robbins-Reed with investment partnerships with Newport Beach-based Capstone Management Services and The Resmark Companies of San Diego.
The single-family home portion of the project has been dubbed Noveno, which means “ninth” in Spanish, because of its location near the ninth peak of San Luis Obispo County’s mountain chain known as the “Nine Sisters.”
Homes in the 1,651-1,959-square-foot range will be offered starting in the mid-$600,000s. Homes in the 1,840-2,514-square-foot range will be offered starting in the mid-$700,000s.
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Noveno will begin accepting reservations in spring of 2018 and we expect an enthusiastic response from professionals, growing families, and active retirees alike.
Aaryn Abbott, Robbins-Reed vice president
Completion of homes is estimated to take place winter 2018.
“This has been in the city’s planning for 20 years, and we’ve been involved with it for four,” said Aaryn Abbott, Robbins-Reed vice president. “... Noveno will begin accepting reservations in spring of 2018, and we expect an enthusiastic response from professionals, growing families and active retirees alike.”
The homes will be available in 10 design options. One- and two-story floor plans are available, and all homes will have solar panels with attached garages pre-wired for electric vehicle charging.
No purchase program for preference given to local residents or workers has been established — meaning sales will be market driven.
Abbott said that 10 of the 105 apartments will fall under affordable housing guidelines under the city’s inclusionary housing program.
The inclusionary housing program restricts affordable housing to lower income residents who must qualify based on income. The program will be operated in partnership with a local nonprofit such as People’s Self-Help Housing or the Housing Authority of San Luis Obispo.
The project also will include pedestrian and bike paths, parks and open space.