Guest: Mike Manchak, President and CEO for the Economic Vitality Corporation (EVC)
A pair of hotels are in the planning stages for both Pismo Beach and Avila Beach by Santa Barbara-based Somera Capital Management and San Francisco-based Postcard Properties. The 50 room hotel near Avila Beach would be built on a 23-acre ocean-view piece of property located between Avila and Port San Luis. Land adjacent to the Pismo Pier is the site of a the other $40 million, 108 room hotel with a possible construction start of early 2015.
Coast Bancorp announces $6.8 million in new capital.