DINUBA, Calif., Nov. 16, 2018 (GLOBE NEWSWIRE) -- San Joaquin Valley Homes (SJV Homes) and Presidio Residential Capital recently closed on 40 acres north of Nebraska Avenue and east of Viscaya Parkway in Dinuba and plan to build Vista Robles, a new neighborhood with 138 single-story detached homes. The partners plan to break ground this month and begin model construction in February 2019. The retail value of this project when it’s complete will exceed $38 million.
“We are honored to be able to offer families in Dinuba quality homes,” said Danny Garcia, vice president of sales at SJV Homes. “We can’t wait to start showing off this beautiful community.”
Vista Robles will offer single-story homes ranging from 1,443 to 2,100 square feet with Mediterranean, Tuscan and Craftsman exteriors. The three-to four-bedroom homes offer extra-large homesites and spacious floorplans with two- and three-car garages. Prices are expected to start in the $260,000s.
The community is surrounded by agricultural land and rural residential development. Located approximately 12 miles from Highway 99, the main regional transportation corridor, Vista Robles is about 30 miles southeast of Fresno and 37 miles northwest of Visalia. It is close to shopping and major employers including Ruiz Food Products, Dinuba Unified School District and Family Tree Farms.
This is SJV Homes’ 23rd 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 138 single-family homes will generate $39.6 million in local income, $5 million in taxes and other revenue for local governments and 544 local jobs.
About SJV Homes
San Joaquin Valley Homes (SJV Homes) is a local homebuilder with deep roots in and a strong commitment to the Central Valley. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision to build quality new homes in carefully planned neighborhoods for people who love the Valley and want lasting value. In 2013, SJV Homes combined forces with Presidio Residential Capital, a real estate investment firm in San Diego. It has since closed almost 1,500 homes and is now one of the busiest homebuilders in the San Joaquin Valley. For more information, please visit www.sjvhomes.com.
About Presidio Residential Capital
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 $100 million in capital for home-building projects in the Western United States in the next 12 months. It currently has investments in Arizona, California, Nevada, Colorado, Washington and Idaho with current committed capital of $500 million focused on 90+/- 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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