SOURCE: San Joaquin Valley Homes

San Joaquin Valley Homes

September 03, 2015 17:48 ET

San Joaquin Valley Homes to Build First Phase of $90 Million, 350-Unit Community Offering Accessible Housing in Tulare

Developer to Break Ground on 53 Homes at Sedona @ Palo Verde, Located Next to Tulare's Major New Shopping Areas

TULARE, CA--(Marketwired - Sep 3, 2015) - San Joaquin Valley Homes (SJV Homes) will break ground this month on the first phase of Palo Verde, a 110-acre community at Mooney Boulevard and Seminole Avenue in Tulare that will eventually offer 350 lots. SJV Homes will build 53 single-story homes with five floorplans ranging between 1,574 and 2,250 square feet at Sedona @ Palo Verde.

The $90 million development is the eighth project that SJV Homes has developed in a joint venture with Presidio Residential Capital, a San Diego-based real estate investment company.

"Sedona @ Palo Verde will offer much-needed homes at accessible prices in a highly desirable area," said Joe Leal, who co-founded SJV Homes two years ago with long-time development partners Jim Robinson and Randy Merrill. "Palo Verde is ideally located just off Mooney Boulevard, making for a quick 10-minute trip to nearby Visalia and just a few miles east of Highway 99, an easy commute to nearly everywhere."

Sedona @ Palo Verde will offer 53 homes on 25 acres with lot sizes of up to 7,000 square feet. The two- to four-bedroom, two- to two-and-a-half bath homes will include two- or three-car garages, nine-foot ceilings, Whirlpool appliances and flexible room options including dens, offices and media rooms.

The community is close to the Santa Fe Trail, a five-mile walking path through Tulare and an hour from Sequoia National Park. Close to major employers and shopping, Sedona @ Palo Verde is 11 miles from Visalia Municipal Airport and 52 miles from Fresno Yosemite International Airport.

The remainder of the neighborhoods in the Palo Verde master plan will include larger homes, a gated community and a new elementary school.

SJV Homes expects to hold a grand opening at Sedona @ Palo Verde in spring of 2016.

According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 53 single-family homes will generate $15.2 million in local income, $1.9 million in taxes and other revenue for local governments and 209 local jobs.

About SJV Homes
Deeply rooted in residential construction, the founders of Visalia, California-based San Joaquin Valley Homes have built thousands of quality homes and attractive neighborhoods for San Joaquin Valley residents. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision of delivering excellence through every level of building, delivering wonderful homes in great neighborhoods. In 2013, SJV Homes combined forces with Presidio Residential Capital and now controls approximately 1,500 lots in the San Joaquin Valley. SJV Homes has committed $68.5 million to build five new communities with a total of 751 new homes in this underserved area of Central California. www.sjvhomes.com