April 11, 2008
FOR IMMEDIATE RELEASE

Contact: Carol Florence
Oasis Associates Inc.
(805) 541-4509
cmf@oasisassoc.com

Downtown Association Gives Vote of Confidence to Garden Street Terraces

SAN LUIS OBISPO — Garden Street Terraces has received a unanimous vote of confidence from the San Luis Obispo Downtown Association.

The association's board of directors announced its support for the general concept of the project in an April 8 letter to developers Garden Street SLO Partners LP.

After watching the progress of the project from its "earliest days," the letter states, the Downtown Association believes the development will achieve the goals of the association's downtown Design Concept Plan, and the developer will "deliver a project that will improve Downtown and be an asset to the city."

The directors concluded that Garden Street Terraces will fulfill the Downtown Association's goals of maintaining a diverse mix of uses and encouraging development of housing and hotels in downtown San Luis Obispo, and it will ultimately add a new dimension of activity to the downtown.

"We appreciate this vote of confidence, especially coming from the association so committed to maintaining the character and vitality of Downtown San Luis Obispo," said Hamish Marshall, managing principal, Garden Street SLO Partners LP. "We will continue to work diligently to create the best project for our community."

Garden Street Terraces is a mixed-use development planned for Downtown San Luis Obispo, bordered by Garden, Broad and Marsh streets. The project is a five-story building that will house a 70-room hotel with restaurant and café, 25,000 square feet of commercial and retail space, 53 residential units and 162 parking spaces.

The project is under review by the City, and numerous public hearings are expected to continue throughout the year.