Written by The Business Journal Staff
Visalia-based San Joaquin Valley Homes announced it has closed on yet another South Valley residential development, this time on a 72.4-acre tract in Tulare that will make way for 115 homes.
The $30 million development is called Brighton, and it was closed with the builder’s financing partner, Presidio Residential Capital. Construction is scheduled to begin in January 2018, with models for sale starting in the spring.
“Brighton is ideally located for families and professionals with easy access to employment and entertainment opportunities in the Central Valley,” said Danny Garcia, vice president of sales at SJV Homes. “We look forward to offering these quality homes to our friends and neighbors here.”
Brighton will feature entry-level homes with five floor plans ranging from 1,574 to 2,314 square feet and a move-up line ranging from 2,000 to 2,831 square feet on lots averaging 7,226 square feet. The community will include a community park and a pond.
Brighton, which will be located north of East Cartmill Avenue and west of North Mooney Boulevard, is just over one mile east of Highway 99, a major Central Valley transportation corridor that connects to Fresno and Bakersfield.
Brighton is SJV Homes’ 16th joint venture project with Presidio Residential Capital, a San Diego-based real estate investment company that funds 100 percent of the projects and operations of SJV Homes.
Earlier this month, SJV Homes announced a 142-home development in Hanford, and in October it also announced a new 51-home development in Visalia.