H-SAN LUIS OBISPO

Aug 14, 2013 12:11 AM by Connie Tran, KSBY News

Clint Pearce, co-developer of Dalidio Ranch, pulls out of project

The Dalidio Ranch in San Luis Obispo, which can been seen off Highway 101, has been one of the most controversial pieces of land in the county for years. Just a few weeks ago, we spoke to local developers Clint Pearce and Gary Grossman about their vision for the future of the ranch. But on Tuesday, it was announced that Pearce has pulled out of the project.

Pearce told KSBY News on Tuesday that he has removed his name from escrow but said he still firmly believes in Grossman's vision for the property. About two weeks ago, the two developers said they planned on developing a mixed-use project on the 131 acre property. They said the mixed-use project would consist of housing and some retail stores. The two had bid for the property after rancher Ernie Dalidio put the property up for $19.75 million in May.

Pearce said he just didn't feel like he could put forth the energy that is needed for the project. He said there is absolutely no conflict between him and Grossman.

"As far as my personal involvement, though I'm going to be cheering from the sidelines and really behind it, I've got a lot of other things on my plate, and I just didn't feel like I was going to be able to do this, the energy and attention that it really needed from my, from my spot. And, I have a lot of faith in Gary (Grossman), and the development team that they're gonna do a great job with it," said Pearce.

Grossman did not return KSBY's phone calls as of airtime. However, Pearce said he believes his former co-developer will continue on with the project. He said he doesn't know if Grossman will take it on himself, or bring someone else in.

Pearce added that Grossman is a wonderful gentleman, a great businessman, and said it was a pleasure to work with him during the time that they did. Pearce said he will offer to give Grossman a hand from time to time if he needs it.

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