MBK Rental Living is bringing a rare rental housing project to the market in the Central Coast. Located at 710 Experimental Station Road in Paso Robles, Blue Oak will feature 85 apartments and 56 townhomes. The Central Coast has a dearth of rental housing and limited new product has come to market. As a result, there is pent-up demand for rental housing options.

“The Central Coast has historically been a tight rental market, with some of the lowest rates of vacancy in the State of California,” Craig Jones, president of MBK Rental Living, tells GlobeSt.com. “When we first looked at the market, we noticed that most rental communities were fully leased with 6-12 month wait lists. There was pent-up demand for quality housing in a very desirable location. High barriers to entry, including slow growth initiatives and other entitlement hurdles, have historically limited the supply of new housing. Construction costs are also higher due to a limited supply of subcontractors in the area and getting materials to the site.”

While rental supply has been difficult to build in the market, the city leadership has actually been supportive of Blue Oak through entitlements, design and construction. “The City of Paso Robles has been fantastic to work with—very supportive of creating an apartment community that the city can be proud of,” says Jones. “We purchased the land with entitlements in hand, so much of the risk had been previously mitigated. It was a rare opportunity to build a project of this size in a market with such high demand. We were excited by the opportunity and are even more excited today to be a part of the community.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.