A housing development in Paso Robles remains unfinished as developers grapple with financing problems, leaving rows of incomplete homes along Linne Road.
The Vinedo Housing Project, part of a larger plan called Olsen South Chandler Ranch, has stalled as developers look for a new funding source, according to the City of Paso Robles.
Neal Portlock, owner of Neal Portlock Construction Inc., a local framing contractor, says his crew was hired to frame 230 units on the PA-13 portion of the project. He says the work began, but payments on some of his work never arrived.
“There’s 45 units here, 50 units right here on this street and nobody’s been paid on them,” Portlock said.
Portlock says he had to lay off 45 employees at Christmas when the project was halted, and he estimates more than $1 million is owed to him and his suppliers.
“My employees were all paid, but that came out of my pocket and shut my business down. I’m on the verge of bankruptcy unless we get something to get this project back going,” he said.
City officials have confirmed the project’s funding troubles. Warren Frace, the City of Paso Robles’ community development director, told KSBY via email that STG LLC, the developer for PA-13, notified the city early this year that they had lost construction financing and would stop work while the project was refinanced.
Frace connected KSBY with Rand Sperry, the project’s owner, who said the team is actively seeking new funding and that they are “doing everything we can to get it done, to find a source of funds to get it done.”
When asked about Portlock’s claim of nonpayment, Sperry said he couldn’t comment on that.
Even if new funding is secured, Portlock warns that some work will need to be redone.
“We’ve got mold on the drywall, we’ve got studs in the frames that’s damaged sitting through the winter. We’ve had materials been stolen. All of this will need to be addressed, and it’s going to be a substantial amount of money,” Portlock said.
The neighborhood around Linne Road features a mix of completed homes and many that remain unfinished.
Neighbors say the delay has altered the feel of the area.
“The construction, the look of it all, it can be a little unsettling, especially when you’re coming home at night. It’s pretty empty,” Eduardo Aguilar said.
Amenities promised with the development, such as a pool, gym, and yoga room, remain incomplete with an anticipated finish date aligned to the project’s refinancing timeline.
Sperry indicated those amenities would be the first to be completed once funding is secured.
Portlock remains hopeful that a solution will emerge soon.
“I believe this can be done; it can be accomplished if we all put our heads together,” he said.
The City says it remains in close contact with the developers and plans to provide another update on the funding status on May 1.
In the meantime, residents and contractors are watching closely as San Luis Obispo County officials and the project’s owners navigate the path to finance and construction.
