This year looks to be another decline in new construction for San Luis Obispo County.  Residential building permits throughout the county dropped 46% through June compared with the same period in 2008.

For instance, the City of San Luis Obispo has issued only 3 permits for commercial buildings this year compared to 12 permits last year.

The only projects under construction in Paso Robles are the Lowe's project at Golden Hills Plaza, which includes Bed, Bath & Beyond, and a Jack-in-the-Box on Golden Hill Road.

Many projects are on hold since the collapse of the real estate market as builders and developers are finding it hard to obtain financing.  Adding to the issue is the fact that many hard money lenders have gone out of business, and they were a primary source of funding for commercial projects.  Banks also were a primary source of commercial lending, but they, too, have tightened up their lending requirements.

If you would like to search the MLS for listings in San Luis Obispo County, visit my website.  If you have any real estate questions or general questions about Paso Robles or San Luis Obispo County, please contact me via email or call me at (805) 235-0234 for more information.

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