Three-story building is coming to this lot on Broad Street in SLO. Here’s what’s planned
A new mixed-use development is underway in San Luis Obispo that will bring housing and retail options to the Broad Street area.
A three-story building currently under construction at 2800 Broad St. will feature two stories of residential living units over retail spaces at the street level, according to co-owner Luis Sarmiento.
The project replaces what formerly was a Budget Rent-A-Car at the same location.
A Cal Poly alum, Sarmiento said he and his business partners, Brian Pritt and Jerry Jordano, were looking to expand their portfolio beyond Central Coast Home Health and Hospice, which all three co-own.
Real estate seemed like a logical next step, he said.
“I used to live on Bluerock (Drive),” Sarmiento told The Tribune. “So I saw that lot kind of going up for sale and then off sale, and then it would go up again and off again.”
After talking it over, the three decided to invest in a mixed-use project at that site, he said.
Sarmiento said the residential spaces will be one- and two-bedroom units, as well as some townhomes.
“We thought apartments would be good because there was a lack of one-bedroom units around town at that time,” he said.
According to city planning documents, the entire project will be served by an off-street surface parking area at the interior of the lot. Some sidewalk frontage improvements are also expected along the property edges of Broad Street and Lawrence Road.
As for what retail could potentially move in once the project is finished, Sarmiento said there were no official tenants just yet but that he envisioned the space could include a gym for residents and potentially a coffee shop, salon and some office space.
The units are expected to go on the market sometime in spring 2025, Sarmiento said, barring any delays in construction due to weather.
This story was originally published November 21, 2023 at 5:00 AM.
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