Marsh Street Commons – Mangano Company Inc.
Craig Mangano, president and owner of the Mangano Company Inc. (MCI) has been in the commercial construction industry since he was just 21 years old. After his father, Anthony Mangano, founded MCI in 1957, Craig began to build experience in every kind of project, from single-family homes to elegant retail developments and prestigious multifamily units. Andy Mangano, Craig’s brother and owner of Mangano Homes Inc. (MHI), shares the same passion for the construction industry as an award-winning builder of custom homes and landmark commercial structures.
In April 2012, the brothers were able to join forces and the expertise of both companies for the 14-month, $10 million Marsh Street Commons (Marsh Street) development. “The owner of Marsh Street is my brother Andy at MHI,” details Craig. “He brought me and MCI in as a partner and general contractor.” In early spring of 2012 the brothers began to gear up for one of the biggest jobs of their careers.
Mixed Use Goes Downtown
Marsh Street is the latest signature project by MHI, offering lofts, single-family homes, office and retail space in the high-traffic, heavily populated area of San Luis Obispo, Calif., which is positioned between Los Angeles and San Francisco. “What’s most interesting about this project is it’s truly a mixed use build, which for downtown is a rarity with a new buildup,” explains Craig. “Marsh Street is situated on two-thirds of an acre lot at about 15,000 square feet in single-family homes, 6,000 square feet in condo lofts and 9,000 square feet of commercial retail space.”
The lofts will provide a chic downtown living experience with balconies and outdoor patio-style living rooms. Single-family units will boast upper and lower balconies, patios and an interior featuring appliance packages, two-car garages, contemporary cabinets and quartz slab countertops, upgraded plumbing fixtures and wood floors throughout, just to name a few of the high-end features.
Craig reveals Marsh Street is still well under construction, projected to reach completion by fall 2013. “We’ve started out by demolishing some of the old homes on the site to get the project up and going,” he says.
As the general contractor on site, MCI has subcontracted all trades for the Marsh Street project. Craig says it takes a seasoned general contractor to find quality subcontractors that will get the job done on-time and on-budget. “Once we qualify them we go ahead and look at their bids,” he says. “Then we compare apples to apples and usually go with the lower bidder, but they must meet our quality standards. However, getting enough bids on all trades to choose from can be difficult.”
With Open Arms
Aside from managing subcontractors, Craig admits the normal headaches that come with a downtown build weren’t an issue at Marsh Street. “We really haven’t had too many significant challenges,” he says. “The city has welcomed us with open arms. Upon breaking ground, we had the city council and the mayor present and each gave a positive speech about how Marsh Street will bring a valued economic boost to San Luis Obispo.”
Craig reveals one of the most memorable aspects of Marsh Street to-date has been the architectural review process. “As a team we really came up with an A+ design,” he shares. “We made a few changes over the course of the past couple of months, but we ended up with different aspects that we might not have thought of originally, but ended up preferring.” ”
“There’s already a lot of interest from potential buyers because the site is going to meet the new California Green Energy Code (CGEC),” adds Craig. The CGEC is the state’s primary energy policy and planning agency created by the California Legislature in 1974. The organization helps promote energy efficiency and conservation by setting the states appliance and green building standards.
Craig reveals he saw Marsh Street has a great opportunity for MCI and a way to help pull the company out of economic turmoil. “When we saw that the economy was dropping, we sold all of our residential units and lofts and got out in time,” he continues. “We wanted to start working on rare downtown projects, which I see us doing more of in the future. We’re also getting back into the single-family home market.”
Marsh Street has not only been a means for MCI to bring its skills and expertise to the forefront but also a way to combine Craig and Andy’s industry-leading knowledge and family ownership. The result has been an impressive mixed-use build that will bring a variety of new life to San Luis Obispo. Between Craig’s team at the Mangano Company Inc. and Andy’s people at Mangano Homes Inc., the Marsh Street Commons development is shaping up to be a huge success.
For more information about Marsh Street Commons and the Mangano Company Inc., please visit: (www.manganoco.com/marshstreetcommons)
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