A small item on Tuesday’s San Luis Obispo City Council agenda will deal with one of the largest projects downtown has ever seen.

The proposed Garden Street Terraces Project would take up much of the block between Broad and Garden streets along Marsh Street.

City staff is recommending the council approve the work plan for an environmental impact report on the project, which, as submitted, is to include a 70-room hotel, 53 condominiums and 17,000 square feet of retail space. Structures would be four or five stories high, with the tallest point reaching 74 feet.

The project will take over the current Lshaped city parking lot at Broad and Marsh streets. The city has agreed to a memorandum of understanding to say it will advance the developer, Garden Street SLO Partners, $2.4 million for construction in exchange for parking spaces and future tax revenue, but it has not provided final approval on the shape the project will take.

Staff has recommended approving the scope of the environmental review and an archaeological study of the site, authorizing staff to award contracts for both after the developer deposits 30 percent of their cost into an account.

The item is on the council’s consent agenda and is not set for a public hearing.

Information from: www.sanluisobispo.com

This entry was posted on Tuesday, April 17th, 2007 at 12:32 am and is filed under Condo, Real Estate. Tags: City Park Condo Projects retail retail space room hotel San Luis Obispo . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.