VISALIA, CA--(Marketwired - Oct 20, 2016) - San Joaquin Valley Homes (SJV Homes) and Presidio Residential Capital have closed on 18 acres at East Monte Vista Avenue and Santa Fe St. in Visalia and will build Chelsea West, a new neighborhood offering 80 single-family homes. Chelsea West will break ground in November 2016. The retail value of this development is expected to exceed $22 million.
"SJV Homes is honored to provide quality homes for friends and neighbors in our home town of Visalia," said Joe Leal, co-founder for Visalia-based SJV Homes. "We're proud to be a local builder, and we continue to take care of our clients for years after they're in their new homes."
Chelsea West will offer five different home plans (up to 13,000-square-foot lots) with two- and three-car garages, tile roofs, covered front porches and private fenced rear and side yards. The homes will have luxury finishes, including granite countertops, beech cabinetry with brushed nickel hardware and stainless steel appliances.
This new development is conveniently located to Packwood Creek shopping, Highway 198 linking directly to Hanford, I-5 and SR 99, which accesses Fresno and Bakersfield.
This is the homebuilder's 12th project with Presidio, a San Diego-based real estate investment company that funds 100 percent of the projects and operations of SJV Homes.
SJV Homes has six other neighborhoods open for sale with a total of 776 units in the Central Valley region and two properties located in Tulare County with a total of 228 units opening soon. The home builder plans on breaking ground in November 2016 on Chandler Park, which will offer 115 homes in Hanford, Calif.
According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 80 single-family homes will generate $2.3 million in local income, $2.9 million in taxes and other revenue for local governments and 319 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 Central 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, a real estate investment company based in San Diego. www.sjvhomes.com
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 $650 million 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, and it currently has investments in Arizona, California, Nevada, Colorado 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.