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Articles Tagged With ‘Real Estate’




Haggen files for bankruptcy

Written on 9 Sep, 2015 in Daily Briefs, Featured | 32 comments

Grocery chain Haggen has filed for bankrupty following a troubled expansion into new locations, including the Central Coast. The Washington-based supermarket chain filed Tuesday for Chapter 11 bankruptcy protection. Chapter 11 bankruptcy would allow the company to reorganize its business... (Continue reading)

Madonna planning senior retirement community

Written on 22 Aug, 2015 in Daily Briefs, Featured | 30 comments

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?

Written on 18 Aug, 2015 in Daily Briefs, Featured | 11 comments

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

Written on 13 Aug, 2015 in Daily Briefs, Featured | 91 comments

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

Written on 13 Aug, 2015 in Featured, Uncovered SLO | 58 comments

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

Written on 4 Aug, 2015 in Daily Briefs, Featured | 5 comments

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

Written on 8 Jul, 2015 in Featured, Uncovered SLO | 28 comments

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

Written on 1 Jul, 2015 in Featured, Uncovered SLO | 40 comments

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

Written on 1 Jul, 2015 in Featured, Uncovered SLO | 14 comments

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

Written on 28 Jun, 2015 in Featured, Uncovered SLO | 15 comments

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)