SOURCE: Presidio Residential Capital

Presidio Residential Capital

January 29, 2015 11:49 ET

Curtis Park Village to Hold Grand Opening on January 31

Several Homes Already Sold in Urban Infill Community Combining Best Practices in Land Planning, Brownfield Reclamation and Transit-Oriented Design

SACRAMENTO, CA--(Marketwired - Jan 29, 2015) - Presidio Residential Capital and BlackPine Communities will hold a grand opening celebration for Curtis Park Village, a 71-acre mixed-use urban infill community on a former Union Pacific railroad yard in Curtis Park, on January 31 from 11 a.m. to 3 p.m. Grand opening festivities include appetizers from Formoli's Bistro, and the jazz band, Emperors Jazz Combo, will provide entertainment. BlackPine is offering $5,000 worth of option credits to homebuyers who purchase a home at Curtis Park Village through the month of February.

Located next to one of Sacramento's most sought-after legacy neighborhoods and one mile and a half from downtown Sacramento, Curtis Park Village is offering three brownstone home plans ranging from 2,000 to 2,900 square feet, "estate" plans ranging from "2,050 to 2,850 square feet, which feature five architectural styles and 32 different street perspectives, and 12 cottage plans ranging from 1,500 to 2,200 square feet. Five of the brownstones have been sold, and several move-ins are scheduled in February.

"This is one of the first new home communities with this style of housing to be built in this area for 50 years, and homebuyers are recognizing this as a unique opportunity," said Michael E. Paris, founder, president and CFO of BlackPine Communities. "The grand opening will be a great opportunity for people to see virtually every size, shape and option we're offering."

With unique architectural expressions that complement the iconic Curtis Park neighborhood, the solar-ready homes include custom cabinetry, high-end GE appliances, rear-load garage access through a gated alley and front yard landscape maintenance. Residents will have access to a six-acre community park and extensive walking trails, and the $400 million development will feature retail stores, restaurants and housing for all income levels, including a senior housing project.

In February 2014, Presidio Residential Capital partnered with BlackPine Communities to build 86 new homes at Curtis Park Village with a $22 million commitment.

Presidio Residential Capital has partnered with BlackPine Communities to build 86 new homes at Curtis Park Village

"Curtis Park Village offers a timeless residential expression of 'old meets new' with historically based nouveau American cottages and brownstones inspired by Park Slope, New York," said Presidio Residential Capital principal Paul Lucatuarto. "Curtis Park Village offers subtle and sophisticated expressions that complement one another, drawing a picturesque and memorable streetscape. Three distinct communities essentially offer three uniquely different house styles and choices."

Curtis Park Village is close to major employers, including state and county municipal offices, several hospitals, Aerojet/GenCorp and California State University-Sacramento. An $11.5 million pedestrian and bicycle bridge will link residents to a shopping center and a nearby light rail station at Sacramento City College. 

Curtis Park Village is expected to be completed in 2018.

About Presidio
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $500 million into the economy to capitalize the housing industry. The firm's goal is to fund an additional $500 million in capital for home-building projects in the Western United States, and it currently has investments in California, Idaho, Nevada, Texas and Washington. 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 billion. Presidio is a member of the Building Industry Association of San Diego. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn

About BlackPine Communities
Michael Paris serves as president and CFO of BlackPine Communities, leading the company's overall vision, strategic forward planning and business development with more than 28 years of homebuilding experience in both custom and production operations. Paris held several regional and national positions with Kimball Hill Homes, a $1.1 billion national homebuilder based in Chicago. Before he launched BlackPine Communities in 2010, Paris served as CFO for a Northern California commercial real estate company and as CFO for a start-up drilling contractor with operations throughout the western United States. www.blackpinecommunities.com.