San Joaquin Valley Homes and Presidio Residential Capital are expected to break ground later this month on a new 134-home community in Tulare.
Plans are for the Kensington development to offer detached single-family houses from 1,297-1,597 square feet, with each of the three plans priced from the low $200,000 range, states a press release from the developers.
The estimated cost of the project is expected to exceed $33 million.
Sales of the homes a mile north of Highway 99 are expected to begin by spring of next year.
“With this beautiful new community, we’re offering growing families and young professionals an opportunity to live within one of the most desirable areas in the Central Valley,” Danny Garcia, vice president of sales at SJV Homes, said in the release. “With this price point, we believe we’ve hit a particularly sweet spot in this marketplace, and we expect these homes to move quickly.”
Kensington is a 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. To date, SJV Homes and Presidio have partnered on 22 projects totaling more than 2,475 homes, the developers report.