Written by The Business Journal Staff
One Tulare County homebuilder is expanding its development footprint to Reedley.
San Joaquin Valley Homes announced it recently closed on a parcel of land in the Fresno County city to build a neighborhood of 150 single-family homes, according to a press release.
Called San Rio, the development will be at the northeast corner of South Frankwood Road and East South Street, less than two miles from downtown Reedley.
Homes will be between 1,443 square feet to 2,100 square feet with five different floor plans. Homes will be three-to-four bedrooms on 6,800 square-foot lots, on average. Some lots will be more than 10,000 square feet. Homes will start at the upper $200,000 price range.
Model construction will begin December and the community will have a grand opening February 2021. The estimated value of the community is $45 million. San Joaquin Valley Homes financed the project with San Diego-based Presidio Residential Capital. San Rio will be the 27th joint venture between the two companies.
The homebuilder recently announced two new communities in Visalia.