Posts Tagged ‘Real Estate’


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Madonna planning senior retirement community

John Madonna’s plans to fashion his proposed project is fashioned after existing retirement communities.

A San Luis Obispo based developer is planning to build a large-scale retirement community off of Los Osos Valley Road at a cost of approximately $500 million. [Pacific Coast Business Times] John Madonna, the son of late entrepreneur Alex Madonna,... (Continue reading)

Does California have a hotel bubble?

home sales down

Hotel buyers are spending in record fashion in California this year. [OC Register] Buyers spent $4.4 billion on 174 California hotels in the first half of 2015, according to Atlas Hospitality Group of Irvine. That surpassed the annual total spent... (Continue reading)

Starbucks eyeing former Los Osos bank building

Los Osos building

By John Lindt, publisher of Sierra2theSea Los Osos largest shopping center changed hands in July and the new owners hope to “livin up” the center according to Clayton Gambril of family-owned Gambril Development Inc. The Gambrils purchased the center from... (Continue reading)

SLO tale of falsified documents, code violations and water theft

John Belsher and Ryan Petetit

By KAREN VELIE Editor’s note: This is the second in an exclusive series about developers Ryan Petetit and John Belsher, their development projects, their failures to abide by building requirements, legal troubles, and unpaid monies owed to subcontractors and investors.... (Continue reading)

California property sells online for record $96 million

source: Auction.com

A California office complex has become the most expensive piece of United States real estate ever sold in an online auction, according to Auction.com, the company that facilitated the transaction. [NBC News] The 309,734 square-foot Manhattan Beach complex sold for... (Continue reading)

Kelly Gearhart appeals guilty plea, sentencing

Gearhart111

By KAREN VELIE Former Atascadero developer Kelly Gearhart plead guilty to money laundering and wire fraud, was sentenced to 14 years in federal prison last week, and Monday he filed a notice of appeal. According to the notice, Gearhart plans... (Continue reading)

SLO Laureate School shuttered, no warning to parents

SLO Laureate School 2

By KAREN VELIE Parents attempting to drop their children off on Wednesday morning at the Laureate School in San Luis Obispo were informed the owners of the school had been evicted and the school was closed. The Laureate School is... (Continue reading)

Judge asks why Cuesta Title was not indicted

Kelly Gearhart

By KAREN VELIE During the first day of former North County developer Kelly Gearhart’s sentencing hearing, Gearhart’s attorney attempted to paint his client as a previously honest man whose missteps were a result of the downturn in the market while... (Continue reading)

Kelly Gearhart blames lenders, claims he is a victim

Kelly Gearhart

By KAREN VELIE Former North County developer Kelly Gearhart contends that employees of Heritage Oaks Bank and Hurst Financial were primarily responsible for defrauding more than 1,200 investors out of more than $100 million. The prosecution argues that Gearhart lulled... (Continue reading)

Jury awards nearly $1 million more in suit against Cuesta Title

Kelly Gearhart

In addition to awarding about $2 million to former MMA champ Chuck Liddell, a San Luis Obispo jury has awarded nearly $1 million to a pair of brothers, who too claimed Cuesta Title Company helped convicted developer Kelly Gearhart defraud... (Continue reading)



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