New Home Building In SLO County Way Up
Commercial Surges Too
Home builders in San Luis Obispo county responded to the improving real estate market by permitting 350 new homes in 2012 compared to just 106 in 2011. The value of all new single family homes jumped from $32.4 million in 2011 to $117.2 million in 2012 according to Construction Monitor.
The busiest market in the county was in the Nipomo unincorporated area where Shea Homes permitted 62 new homes, making it the busiest general contractor in the county. Next was Paso Robles with 40 sfh permits issued,24 of them by builder Wathen Castanos, the county’s second largest home builder.
The City SLO permitted 30 new homes and Arroyo Grande permitted 20. Pismo approved 13 new homes and Morro Bay 8. There was some home building activity in Cayucos and Templeton.
Mangano Homes, formerly one the largest builders in Tulare County, is now poised to be a bigger player in home building in SLO City in 2013.
The company’s president Andy Mangano announced that “Mangano Homes, Inc. of San Luis Obispo has been engaged by Resmark Land and Housing and its investors to construct the Serra Meadows residential neighborhood. Serra Meadows is located on Prado Road just east of Higuera in San Luis Obispo, and will consist of a single‐family neighborhood totaling 177 homes as well as commercial property.
Mangano Homes anticipates that production will commence in Spring 2013. The company’s first priority will be completing infrastructure improvements including the work on Prado Road.
Countywide in the residential category – solar projects shined in 2012 with 426 – mostly roof top projects – valued at $86 million vs 93 projects valued at $1.5 million in 2011.
Commercial Pick Up
In the commercial category activity picked up in the office sector with 38 projects valued at $15 million in 2012 compared to 12 projects valued at $1.2 million.There were 18 motel projects valued at $1.4 million compared to 7 – worth $533,000 in 2011. Other sectors that showed big gains were 110 retail building projects valued at $12.8 million vs 34 at $7.5 million in 2011.
Industrial projects surged as well in 2012 with 88 at $119 million in value vs 33 for $17.8 million.
Don’t forget ag building that included 86 buildings for $16.4 million vs 31 ag buildings in 2011 valued at $3 million.
Total commercial valuation for 2012 was lower than 2011 ( $447 million vs $977 million) because of the mega-solar projects in the Carrizo Plain that were first permitted in that year, valued at $901 million.