Coast National Bank moves ahead with office
Staff Reports
The Tribune
Despite the uncertainty looming on the economic horizon, Coast National Bank is going forward with construction on its new $2 million building. Located next to the Jack House at 500 Marsh St. in San Luis Obispo, the 10,700-square-foot structure is slated for completion by mid-summer 2002. It will house the bank’s San Luis Obispo branch on the ground floor, with administrative offices on the second floor and a 500-square-foot community room. Once the transition is complete, the building will hold about 25 employees.
“We debated a lot at the board level whether to break ground or delay until next spring,” said Jack Wauchope, Coast National’s president and chief executive officer. “But we decided to make a statement – it’s saying the country is going to move forward. I think we’re in for economic disruption and it could be quite severe, but it is going to get better.”
The bank, which originally planned a stucco building, was sent back to the drawing board by the city’s Architectural Review Committee, Wauchope said. Aided by architects at Steven D. Pults and Associates, the bank developed an Italianate design in brick with a slate roof that received the committee’s thumbs up.
“We think it’s going to be very attractive” and blend in well with the historic building next door, Wauchope said.
Coast National contracted with J.W. Design and Construction Inc. of San Luis Obispo for construction. The 4-year-old bank has $104 million in assets and more than 4,700 accounts. Its main branch is at 486 Marsh St., while its executive offices are on Higuera Street. Coast National also has branches in Arroyo Grande, Morro Bay and Los Osos.
– Raven J. Railey
© 2006 The Tribune