Written by The Business Journal Staff
Visalia-based San Joaquin Valley Homes closed on land for two neighborhoods in Hanford that will bring 208 homes, a community park and open space. The two neighborhoods will be part of a planned 578 homes in south Hanford on 12th Avenue between Hume Avenue and Houston Avenue.
Two of those neighborhoods, Sterling Oaks and Hidden Oaks, will each have 104 single-family homes. Model home construction will begin February 2021 with completion in late spring, according to a press release.
The estimated value of these two neighborhoods is $62 million. Adding 208 single-family homes is calculated to generate $59.6 million in local income, $7.48 million in taxes and 819 jobs, according to a formula by the National Association of Home Builders, which the press release cited.