San Joaquin Valley Homes (SJV Homes) and Presidio Residential Capital have closed on a 8.75-acre community site in Visalia, California, on which they plan to build 51 single-family homes.
The upcoming Catalina community will offer 5,000 square foot home lots and close access to major employers and public transit options, as well as recreation at Sequoia National Forest, Riverway Sports Park and Lake Kaweah.
“Because we’re based in Visalia, we know how great it is to live here,” says Joe Leal, co-founder for Visalia-based SJV Homes. “Homes in this area are moving quickly, and prices are rising. We’re pleased to be able to offer quality houses in a great location with Catalina.”
According to the National Association of Home Builders’ local impact formula, 51 new single-family homes will generate $14.6 million in local income, $1.8 million in taxes and other revenue, and 201 local jobs.
The community will begin construction in January 2018, and celebrate its grand opening in spring 2018. It is expected to be complete by July 2019.