El Dorado | Favorable Residential Zone| Irvine, CA

Vinedo PA 2_131 TWH's

Viñedo 126 - PA 2

City of Paso Robles

THE OPPORTUNITY

The subject is Planning Area 2, 126 townhomes within Viñedo, a fully approved 1,233-home master planned community on 279 acres located in the uncrowded central coast city of Paso Robles. With entitlements approved, backbone improvements near completion and grading complete, this is an ideal project for a homebuilder in need of inventory. Upon acquisition, a buyer can hit the ground running and avoid the arduous process of securing entitlements, only needing to start development of the site. A builder could deliver townhome product in the mid to upper $600,000 range provided, however, home pricing must conform to county workforce housing pricing standards. Only 108 of the 126 townhomes are designated as workforce housing. More information about workforce housing can be found in the Olsen Ranch Development Agreement, the county's Workforce Housing Design Guidelines and from the County of San Luis Obispo.

For several years now, this area has seen a significant migration of people from urban areas like the Bay Area and Southern California to San Luis Obispo County in search of a better lifestyle. The recent shift to working remotely and the flight from restrictive urban areas has accelerated this migration to suburban areas like Paso Robles. For decades, new developments were too small and too scarce which limited housing opportunities for developers. With the advent of Vinedo, Paso Robles has the ability to offer high-quality housing to satisfy strong demand from a variety of homebuyers from working singles, couples and families to active adults ready to enjoy retirement.

PROPERTY HIGHLIGHTS

Project is 126 townhome units within the Viñedo Master Plan.
Located near main arterials and the 101 Freeway.
Paso Robles is rapidly growing with a demand for new housing.
Adjacent to Shea Homes world class Trilogy Active Lifestyle community (under development).

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