SAN MARCOS, CA--(Marketwired - Jan 24, 2017) - CaliforniaWest and Presidio Residential Capital have announced the start of model construction at Westerly, a new neighborhood with 71 home sites on 13 acres within the 253-acre master-planned Rancho Tesoro community in San Marcos. A grand opening is scheduled for late spring 2017, and Westerly is expected to be completed by spring 2019. The retail value of this development is $56 million.
"With its amazing location near Discovery Lake, trails and parks, Westerly will be popular with families as well as young professionals and baby boomers," says Robert Thorne, CEO of CaliforniaWest. "This neighborhood enclave, nestled at the foot of the surrounding hillsides, connects seamlessly to the landscape."
This is Presidio's first joint venture partnership with CaliforniaWest.
Westerly will offer three floor plans featuring four to five bedrooms and three to 4.5 baths ranging from 2,801 to 3,521 square feet in Santa Barbara, Monterey and Spanish ranch styles. Designed by KTGY Group, the homes will have open floor plans with large great rooms, gourmet kitchens with oversized islands, spacious master suites with optional oversized retreat, standard bonus rooms, optional casita with private entry, optional covered outdoor living rooms and two-bay attached garages.
Residents will have access to a community recreational facility with a pool, spa, tot lot, bocce court, fire pits, barbecue and picnic areas. In addition, Westerly residents will have the opportunity to enjoy more than 40 acres of open space, 2.7 miles of scenic trails and three private parks.
The new community is centrally located near major San Diego freeway corridors including Highway 78 and Interstate 5 and a short distance from the Palomar Airport in Carlsbad. Its schools are in one of the top rated districts in North San Diego County. It is just west of Discovery Lake and 10 miles from the Carlsbad beaches. LEGOLAND and the San Diego Wild Animal Park are also nearby. Major local employers include California State University San Marcos, Palomar Medical Center, Northrup Grumman, Camp Pendleton and Scripps Health.
CaliforniaWest is a privately-held, multi-generational San Diego builder. CaliforniaWest embraces a passion for creating neighborhoods with inspired designs in San Diego's most desirable cities. The company started this process over 20 years ago and continues to build with a level of depth and personal commitment that spans generations with a focus on sustainability, quality, and craftsmanship. Visit www.CalWestLiving.com to learn more.
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital in the form of joint ventures for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1 billion into the economy to capitalize the housing industry. The firm's goal is to fund an additional $250 million in capital for home-building projects in the Western United States through 2017. It currently has investments in Arizona, California, Nevada, Colorado, Idaho and Washington with current committed capital of $650 million focused on 95+ projects. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2.5 billion. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.
About Rancho Tesoro
Opening in spring 2017, Rancho Tesoro is a new master-planned community crafted by developer and homebuilder Brookfield Residential. This nature-oriented community spans more than 250 acres with dedicated open space and convenient access to nearby San Marcos Unified schools, Cal State University San Marcos, and State Route 78. Both CaliforniaWest Communities and Brookfield Residential will offer single-family homes across four neighborhoods, three of which will be behind private gates, plus private pool and park amenities including a direct connection to Discovery Lake. For more information and to join the interest list, please visit LiveRanchoTesoro.com.