Crews began pouring concrete on the first homes built by T.C. James Homes. Photo by Edward Smith.
Written by Edward Smith
The Central Valley’s newest homebuilder laid the concrete on their first property Wednesday in Goshen, with an aim to build affordable, new-construction homes.
The owners of Visalia-based T.C. James Homes have begun selling the first phase of their Tierra Linda neighborhood at Road 72 and Avenue 310, near the Visalia Industrial Park.
Full build-out will allow for 200 homes, according to Jason Lewis, president of T.C. James.
The price of homes built by T.C. James will be around the mid-$300,000s, with prices capped to coincide with the United States Department of Agriculture’s home loan program.
Loans from the USDA target low-income buyers with options for no down payment. Lewis said while not all their buyers will participate in the program, their goal was to have all their homes qualify.
Homes will typically be anywhere from $12,000 to $40,000 lower than market rates, depending on the area, Lewis said.
“We looked at that model and said there’s an opportunity here,” Lewis said. “There’s an opportunity to serve a portion of the market that’s not being served.”
Darnell said the average monthly payment for a new home is out of reach of most Valley residents.
“If you look at the graph of where people’s incomes are and you look at a graph of where housing is being build, that’s the area that’s being missed,” Patrick Darnell, CEO of T.C. James said.
By limiting amenities, they can build accessible homes for buyers.
“We want to build a good, solid home, but it may not have all the high-end perks of the other homes, but we’re ok with that,” Lewis said.
It was years ago that Lewis met Darnell when they first worked at homebuilder D.R. Horton together. With their knowledge of the housing construction market, they discussed starting their own business.
But it wouldn’t be until after Covid that the opportunity arose for the two to begin their venture. They partnered with Tyler Pender, co-founder of Visalia-based Kuubix Energy and Spencer Anderson, an oral surgeon in Visalia as investors. Tsvi “Chuck” Guy with Dara Lane Capital helped with the fundraise.
On the other side of Highway 99 from their Tierra Linda neighborhood, the group has already purchased land for another 67 homes. They hope to begin development next month.
They are also developing a neighborhood in Fresno near Dakota and Polk avenues for 38 lots. They hope to break ground in the first quarter of 2023. They have plans for additional neighborhoods in Visalia and Tulare.
The Goshen community will be located across the street from Peter Malloch Park and across the street from one of Family HealthCare Network’s clinics. Tulare County Board Chairman Eddie Valero said the newly renovated Betty Drive, which provides access to Highway 99 has been an “economic boon” to the area
“What was once a community people passed through — and as quickly as possible — is now a community where people want to live, work and play,” Valero said.