Atascadero is getting 208 new apartments — here’s how much they’ll cost
Hundreds of new apartments are under construction on the north side of Atascadero — and the builder hopes they’ll provide more affordable housing for North County workers.
Monterey developer Peter Laughlin of the Laughlin Co. broke ground in late October on the first phase of Emerald Ridge Apartments, a 208-unit complex to be built at 2535, 2605 and 2705 El Camino Real.
Laughlin’s company purchased three parcels in the early 2000s and combined them to build a condo development. But that project never got off the ground, and the Great Recession put plans on hold.
When Laughlin went back to the drawing board, housing tastes had changed, and the company decided to focus on more workforce-oriented rental housing.
The Atascadero Planning Commission approved plans for the Emerald Ridge project in 2016.
“In the North County, there’s been a tremendous level of growth in service-level jobs,” Laughlin said. “The housing hasn’t kept pace with the demand for it.”
Workforce housing
The development will feature one- and two-bedroom apartments and larger townhomes, Laughlin said.
The 750-square-foot one-bedroom apartments will include an additional smaller room that could be used as a home office or a second bedroom.
The two-bedroom apartments will feature 950 square feet, and the townhomes will be sized at 1,200 to 1,300 square feet.
The units could start at $1,700 and cost as much as $2,400 to $2,500, Laughlin estimated.
Laughlin wants the complex to serve residents who work across the North County and in San Luis Obispo, where rents are more expensive.
“We’re able to meet a whole broad spectrum of the demand for entry-level units,” Laughlin said.
The complex will also come with “luxury-type” features, such as a pool, fitness center, outdoor spaces, a pet park and a playground.
The development’s first 36 units will be complete by 2021, Laughlin said. Construction will start on the next 72 units soon after the first phase is complete. The following 100 units will likely be complete by 2024 or 2025.
“All the way around, it’s going to be a win for the county,” Laughlin said.
This story was originally published December 5, 2019 at 11:13 AM.
