Roundhouse Place Partners, LLC, has been formed to purchase a 1.08 acre parcel located at the Southeast corner of Roundhouse Ave. and Emily St. in the mixed use, master developed Village at Broad, in San Luis Obispo, California, and to build, own, and operate a 39-unit apartment community on that parcel. The supply of new apartments in San Luis Obispo has not nearly kept pace with demand and occupancy rates there tend to be above average. San Luis Obispo offers a superior quality of living. The Managing Partners John Blair and Andrew Fuller believe that a well located, properly developed apartment community within the City of San Luis Obispo will produce superior risk-adjusted returns over a long term investment horizon. The principal objectives of the Partnership will be to obtain long term positive cash flow and capital appreciation.