Another Condo Project Slides Into Oblivion in SLO County

Atascadero CA
In the Tribune this morning, there is an article on Southside Condo’s, which has had work stopped for over a year now, has had it’s lender file suit against the builder.

Charnley Development/Pembroke Builders started the project several years ago, when the heady days were around…I actually sold the decks and stairs on the project through a company I worked for.
We did three buildings, 2 were 100% completed and the 3rd was 75% done when work stopped.

Sun scorched building paper is drying out, plywood and trim is cracking and drying out. When/if this building ever starts to go again, it’s going to need some help to ensure deteriorating materials are removed and replaced…

Rabobank has filed for payment of 7 million, the Trib said an appraisal of some sort valued the property at 3.5 million. Huh…and there’s the poor folks who bought a unit and are stuck probably…and then there’s this huge eyesore of a lot, and an unfinished building…