Joint partners San Joaquin Valley homes and Presidio Residential Capital plan to build two new single-family home communities, Greystone and Ashton Park, on adjoining land parcels in Visalia, Calif. The partners have closed on the first 29-acre parcel, which will contain 151 home lots, and plan to close on an additional 19 acres and 67 lots next year.
Greystone and Ashton Park are set to break ground next month, with neighborhoods open for sale by early 2019. The communities will contain a total of 218 new homes at full buildout, priced from the mid $200,000s. The project’s estimated retail value is over $52 million.
“Ideally located on prime Visalia land in the Northwest with easy access to excellent schools, these communities will be extremely appealing to first-time and move-up buyers and young families,” said Danny Garcia, vice president of sales at SJV Homes. “We’re thrilled to provide high-quality housing at affordable prices in our hometown.”
Greystone will offer 127 traditional-style homes with six floor plans ranging in size from 1,658 to 3,205 square feet, while Ashton Park will offer 91 garden-style homes ranging with three floor plans ranging in size from 1,297 to 1,597 square feet. Each home will feature nine-foot ceilings, tile flooring, pitched tile roofs, stainless appliances and granite countertops.
The neighborhoods will be located less than four miles from downtown Visalia, and about four miles from State Route 99, which connects Visalia to Fresno and Bakersfield. According to the National Association of Home Builders’ local impact formula for single-family housing, the addition of 218 single family homes would add $63.7 million in income to the local economy, as well as $7.9 million in taxes and other revenue and 875 local jobs.
