Wednesday July 28, 2021
Visalia-based developer has built nearly 250 homes in the city in the last three years
TULARE – The city of Tulare needs to build another 921 housing units in the next three years to meet the needs of the community. The city has been building an average of 334 homes per year since the Regional Housing Needs Assessment was drafted by the Tulare County Association of Governments in 2014 having built a total of 2,673 new housing units in the last eight years.
Last month, Tulare got a lot closer to its goal after San Joaquin Valley Homes announced it closed escrow on land in the city and plans to build 155 single family homes at the southwest corner of Pacific Avenue and Mooney Boulevard.
The Visalia-based homebuilder said model construction will begin in August, and the first homes released for sale will start construction in September.
“We’re excited to continue building homes in this desirable area of Tulare,” Danny Garcia, vice president of sales at SJV Homes said. “Due to strong demand, we’re thrilled to be able to offer quality homes in a great location.”
The single-family homes at Cypress Park will range from 1,658 to 2,803 square feet, with lot sizes averaging 7,850 square feet. Homebuyers can choose from floor plans with living spaces tailored to fit a variety of lifestyles and family sizes. Homes have nine-foot ceilings, three to five bedrooms, two to 2.5 baths and two- and three-car garages. Some of the plans will offer flexible room options providing the opportunity for customization. The exteriors are designed in Tuscan, Mediterranean and Craftsman styles, and popular kitchen features will include a pantry, center island, granite countertops and stainless steel appliances.
According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 155 single-family homes will generate $44 million in local income, $5.5 million in taxes and other revenue for local governments and 602 local jobs.
Students can attend Liberty Elementary in Liberty Elementary School District—which is within walking distance—Live Oak Middle School in Tulare City School District and Tulare Western High School in Tulare Joint Union High School District. Major retail, entertainment and services are within five miles of Cypress Park. State Route 99, a major transportation corridor in the Central Valley connecting Fresno to the north and Bakersfield to the south is just one mile east. Visalia is five minutes to the north.
SJV Homes has been extremely active in Tulare the last three years. In 2018, the company opened its Brighton neighborhood of 114 homes in northeast Tulare. In 2019, SJV Homes opened its Kensington at Willow Glen subdivision added 134 homes to northeast Tulare.
Founded in 2013 by Joe Leal, Jim Robinson and Randy Merrill, SJV Homes is a local homebuilder currently developing new home neighborhoods in Dinuba, Hanford, Kingsburg, Porterville, Tulare and Visalia. In 2020, SJV Homes made the prestigious Builder 100 list, a ranking of the top 100 homebuilders in the U.S. put out each year by Builder magazine. For more information, visit www.sjvhomes.com.
Since the beginning, SJV Homes has partnered with Presidio Residential Capital, a real estate investment firm in San Diego, on 23 projects totaling more than 2,700 units. 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 investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $400 million focused on 65 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. For more information, visit www.presidioresidential.com or find them on Facebook, Twitter and LinkedIn.