Wednesday October 21, 2020
Central Valley Developer to Build 150 Single-Family Homes
REEDLEY, Calif. – San Joaquin Valley Homes (SJV Homes) and Presidio Residential Capital recently closed on a parcel of land in Fresno County with plans to build San Rio, a new neighborhood of 150 single-family detached homes. Model construction is planned to begin February 2021 and expected to be completed by April. Homes will begin in the upper $200,000s, and the total estimated value of this community is $45 million.
“We’re excited to be building homes in Reedley, a small town just 25 miles southeast of Fresno nestled beside Kings River,” said Danny Garcia, vice president of sales at SJV Homes. “Reedley provides convenient access to jobs and businesses in Fresno, and its location between the Coastal and Sierra mountains provides ample options for outdoor activities for the entire family too.”
Located in north Reedley, at the northeast corner of S. Frankwood Road and E. South Street, San Rio will offer single-story homes ranging from 1,443 to 2,100 square feet representing at least five unique floor plans. The three- to four-bedroom homes will be built on 6,800-square-foot lots on average with some lots greater than 10,000 square feet. The residences include tile flooring, granite countertops and convenient indoor laundry rooms. Exteriors feature Mediterranean, Tuscan and traditional architectural styles all with covered front porches and two- and three-car attached garages.
This neighborhood is 1.5 miles from downtown Reedley where residents will find a variety of dining, entertainment and retailers. The city has a more than 100-year-old tradition of tree and vine fruit harvesting, which is how it got the nickname “The World’s Fruit Basket” in 1946.
Reedley hosts several cultural festivals, including the Reedley Fiesta in October, the Street Faire and Car Show in spring and the Electrical Farm Equipment Parade in December showcasing the teamwork and creativity of the local farm industry.
Schools serving students living at San Rio are Great Western Elementary, Navelencia Intermediate and Reedley High School, all part of Kings Canyon Unified School District.
This is SJV Homes’ 27th joint venture project with Presidio Residential Capital, a San Diego-based real estate management company.
According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 150 single-family homes will generate $43 million in local income, $5.4 million in taxes and other revenue for local governments and 591 local jobs.
About San Joaquin Valley 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 management firm in San Diego. It has since closed 2,000 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 management company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the 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 on the housing industry. The firm’s goal is to invest in excess of $75 million in capital for home-building projects in the Western United States in the next 12 months. It currently has joint ventures in Arizona, California, Nevada and Washington with current committed capital of $250 million focused on 60 plus 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 billion. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn