Pearce splits from Dalidio project

August 14, 2013

dalidio landProblems of an unspecified nature between principals in the planned development of Dalidio Ranch caused Madonna Enterprises’ Clint Pearce to walk from the project, informed sources have told CalCoastNews.

Pearce and developer Gary Grossman previously had announced plans for a multifaceted project incorporating housing and commercial structures on the property, now in escrow for the $19.7 million sale. Pearce was to have been responsible for retail development of the site.

Grossman said he will continue alone, but suggested he might look for a partner at a later date.

The pair differed on their concept of the plan, said sources familiar with the situation, who also noted that the proposed project might require more capital investment than Pearce was willing to commit.

Grossman wanted to include high-end retail in the new development, but Pearce was quoted recently as saying the plans did not include that, and instead was intending to incorporate “affordable” retail outlets.

Grossman is still considering a high-end outlet.

As currently envisioned, the 130-acre parcel would support 500 residential structures and commercial space, and maintaining some farmland and open space.


13 Comments

  1. SamLouis says:

    What really would have been great is if Cal Poly SLO could have acquired this property and created an “Innovation Village” like Cal Poly Pomona has done: http://www.innovationvillage.org/

    That’s pretty much what Stanford did decades ago…

    Like or Dislike: Thumb up 0 Thumb down 0

  2. godislanguage says:

    Cal Poly could trade some of their land for it and make it a Division I sports complex.

    Adjacent to 101 and the arrangements can be made for mix public use.

    $19.1M for 130 Acres…I believe the math is there!

    Like or Dislike: Thumb up 1 Thumb down 1

    • godislanguage says:

      …a better buyer would be Cal Poly Alumni.

      I’d rather see it stay as ag land, but the writing is on the wall. Growth will happen, just like death and taxes. If it does happen use this space for recreational events thereby not congesting the area with chronic traffic issues, but just event traffic issues adjacent to 101 and away from city streets.

      Like or Dislike: Thumb up 0 Thumb down 0

  3. Jorge Estrada says:

    I agree with Galaxy Traveler, farming the land while utilizing the pond water from the other side of the highway would be a win win for the SLO flush and its design short falls. Maybe the City of SLO should buy this land and create a developement strategy that will be an ongoing correction for the rising cost of cityhood.

    Like or Dislike: Thumb up 3 Thumb down 1

  4. GalaxyTraveler says:

    Pearce is just being smart. The reason nothing has been built there is simple…there’s no real need for anything. Farming it is the best idea.

    Like or Dislike: Thumb up 10 Thumb down 6

  5. Zuma7 says:

    Things aren’t going well with the project? What a shame…..

    Like or Dislike: Thumb up 14 Thumb down 2

  6. Pelican1 says:

    Ernie’s lament…..
    Now when I was just a little boy standin’ to my Daddy’s knee
    My Poppa said son don’t let the man get you do what he done to me
    ’cause he’ll get you ’cause he’ll get you now now.

    I can remember the fourth of July runnin’ through the fields bare.
    And I can still hear my old hound dog barkin’ chasin’ down a city hoodoo there
    Chasin’ down a city hoodoo there.

    Like or Dislike: Thumb up 5 Thumb down 4

  7. r0y says:

    We need more empty, over-priced retail and commercial spaces. SLO just doesn’t have enough.

    Like or Dislike: Thumb up 17 Thumb down 1

  8. Robert1 says:

    Pigs, cows and hundreds of hogs…

    Like or Dislike: Thumb up 8 Thumb down 0

    • tomsquawk says:

      so what is the solution? not being a critic, just what do we do?

      Like or Dislike: Thumb up 2 Thumb down 0

      • zaphod says:

        apologize to Ernie Dalidio for queering his deal.

        Like or Dislike: Thumb up 13 Thumb down 1

        • OnTheOtherHand says:

          That would be a good idea but it isn’t a solution.

          Like or Dislike: Thumb up 1 Thumb down 1

  9. tomsquawk says:

    i’m sure we need an outlet mall?

    Like or Dislike: Thumb up 10 Thumb down 3

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