TULARE, CA--(Marketwired - Nov 28, 2017) - San Joaquin Valley Homes (SJV Homes) and Presidio Residential Capital have closed on 72.4 acres northeast of Tulare for a new residential community called Brighton, which will offer 115 detached single-family homes.
Construction on model homes is scheduled to begin in January 2018, and the neighborhood is expected to be open for sale next spring. The retail value of this project is estimated to exceed $30 million.
"Brighton is ideally located for families and professionals with easy access to employment and entertainment opportunities in the Central Valley," said Danny Garcia, vice president of sales at SJV Homes. "We look forward to offering these quality homes to our friends and neighbors here."
Brighton will feature entry-level homes with five floor plans ranging from 1,574 to 2,314 square feet and a move-up line ranging from 2,000 to 2,831 square feet on lots averaging 7,226 square feet. The community will include a community park and a pond.
Brighton, which will be located north of East Cartmill Avenue and west of North Mooney Boulevard, is just over one mile east of State Route 99, a major Central Valley transportation corridor that connects to Fresno and Bakersfield. Mooney Boulevard connects directly to Visalia, a major employment hub.
Founded in 2013 by Joe Leal, Jim Robinson and Randy Merrill, SJV Homes sold its 1,000th home in September, making it one of the region's most active homebuilders.
Brighton is SJV Homes' 16th joint venture project with Presidio Residential Capital, a San Diego-based real estate investment company that funds 100 percent of the projects and operations of SJV Homes.
According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 115 single-family homes will generate $33 million in local income, $9 million in taxes and other revenue for local governments and 453 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
About Presidio
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, California, 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 invest in excess of $150 million in capital for home-building projects in the Western United States in the next 12-plus months. It currently has investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $800 million focused on 100+ 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.
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