Photos and Story by Camas Frank
A project that’s been in active development for approximately 11 years officially broke ground in the former City parking lot behind SLO Brew in downtown.
Beverly Mathews and Hamish Marshall, managing partners in Serra Hotels & Resort spoke at the event about the length of time the project was in the works and thanked the City of SLO management for unwavering support. In many respects the get together was nearly identical to the groundbreaking for Marshall’s two SLO Brew affiliated projects inside City limits.
They will build a 50 ft. high, 65-room hotel with 8 luxury apartments on the upper level. The former parking lot, already stripped of meters, will have the remaining City built bathroom facilities and trees taken out within the next two months as part of a 99-year lease agreement for the property.
Marshall said the lease terms called for an annual payment of $214,000 to the City coffers with stepped increases tied to the Consumer Price Index.
Mayor Jan Marx and City Councilmember John Ashbaugh were enthusiastic about the project with Marx having been on the Council at the time it was conceived.
With the loss of the parking lot, Ashbaugh said it would be important to start on a new City parking garage soon, likely on the City metered lot near Mission Prep High School.
Councilman Dan Carpenter, while attending the event and even taking part in the golden shovel proceedings at Mathews’ behest, did not participate in an official capacity, citing a conflict of interests. As a private citizen though, and a landlord with nearby property, he said his property values would likely rise dramatically after the Garden Street terraces project is complete.
The project is among the first projects in a backlog of major pre-2008 projects to begin construction.
