Local homebuilder San Joaquin Valley Homes announced it has purchased 37 acres of open land in Visalia with plans to build 144 single-family homes.

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Grading on the site between St. John’s Parkway and Houston Avenue begins next month, with a grand opening of the neighborhood, called Pine River Estates, slated for October.

“This neighborhood will offer quality homes at an affordable price,” said SJV Homes’ Co-Founder Jim Robinson. “Prices will start in the low 200s with newly designed floor plans and elevations. Plus, its location near elementary, middle and high schools that are all located close together is ideal for families.”

The subdivision is the ninth project of a joint venture between San Joaquin Valley Homes and Presidio Residential Capital, a San Diego-based real estate investment company.

Since its founding in 2013, San Joaquin Valley Homes has developed five neighborhoods in Tulare County, one in Kern County and two in Kings County. Three more communities are planned for this year.

Pine River Estates will offer five different three- and four-bedroom floorplans with three elevations each, ranging in size from 1,574 square feet to 2,314 square feet, on lots averaging 6,700 square feet.