Rounding out the corner
Intersection At South End Of SLO Is Changing Shape With Two Developments
The Tribune, February 24, 2001
Leslie E. Stevens
SLO DEVELOPMENT: PROJECTS TAKE SHAPE
A key intersection on the city’s southern end will have a very different look when two of its corners are developed for commercial use. The Tank Farm Road and South Higuera Street intersection will be flanked later this year by a 43,000-square-foot office building on the southeast corner and by a yet-to-be-determined project with decidedly historic roots on the northeast corner. The two-story office building designed by architect Steven Pults & Associates is being developed by Tank Farm Properties LLC partners David Weyrich and Dan Lloyd. Its estimated value is $2.87 million. Completion is targeted for this summer. The builder is J W Design & Construction. The property is zoned for commercial service uses and will have access to fiber optic connections and DSL Internet connections, said leasing agent Charlie Senn of Senn Commercial & Investment Real Estate. Likely tenants would include architects, engineering and design firms and computer-related service companies, he said. In a nod to the state’s ongoing energy crisis, Senn said plans include a supplemental power generator.
According to Senn, leasable office space in the city is still tight So far he hasn’t signed any tenants for the new building, but he said negotiations with three businesses are ongoing. Meanwhile, Larry Strasbaugh, the owner of the 12-acre parcel on the northeast corner, is seeking a business partner interested in preserving the historical buildings on the site and incorporating them into a new retail center. Strasbaugh’s situation highlights the difficulties developers can encounter in San Luis Obispo when projects involve historic buildings. He has owned the property since 1981, and signed an agreement with the city three years ago that requires him to preserve and restore the existing 1880s-era ranch house, barn, water tower and blacksmith shop. He is also required to leave the structures in their existing locations. The site can accormnodate a variety of retail uses, including food service and wine tasting, Strasbaugh said. Several developers have shown interest in the property, he said, but they balked at the additional costs and complications of restoring and incorporating the historic structures into the projects. “It is a tremendous challenge to fully restore the structures and utilize the properly to its full economic value,” Strasbaugh said, Further compounding his problems, a fire at the farmhouse in January caused about $60,000 in damage. Strasbaugh has brought in historical experts to assist with repairs, which are ongoing.
© 2001 The Tribune