San Joaquin Valley Homes and Presidio Residential Capital to Build New Community Totaling 142 Homes in Hanford, Calif.
HANFORD, CA–(Marketwired – Nov 6, 2017) – San Joaquin Valley Homes (SJV Homes) and Presidio Residential Capital plan to build a new community called Bella Vista — a 142-home neighborhood located on 41 acres in Northern Hanford, Calif. The retail value of this project is approximately $35 million.
“Hanford is experiencing a historically low inventory of existing homes on the market, and demand for new houses is strong,” said Danny Garcia, vice president of sales at SJV Homes. “The wide range of floor plans will appeal to everyone from move-up buyers and growing families to people who are looking to downsize. We expect these homes to sell quickly once they go on the market.”
Bella Vista will feature detached single-level homes that range in size from 1,658 to 3,205 square feet on expansive lots up to 18,000 square feet. SJV Homes has already broken ground on this project and expects to begin model home construction in February 2018. New homes at Bella Vista are expected to be open for sale in late spring 2018.
This community is conveniently located close to downtown Hanford and nearby Naval Air Station Lemoore.
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.
Bella Vista is SJV Homes’ 15th 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 128 single-family homes will generate $40.75 million in local income, $5.1 million in taxes and other revenue for local governments and 559 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
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.