Woodbury and The Village at Fair Oaks Will Add 72 New Homes to Desirable, Underserved Market
FAIR OAKS, Calif. – Presidio Residential Capital and Watt Communities recently celebrated grand openings at Woodbury at Davis Ranch, a 6.5-acre community with 17 executive-level ranch-style homes in Fair Oaks, Calif., and The Village at Fair Oaks, a six-acre, 55-unit community on Madison Avenue.
“Presidio and Watt Communities are proud to offer the first new home communities to be built in the underserved Fair Oaks market for more than two decades,” said Kevin S. Webb, Northern California division president for Watt Communities, which specializes in infill development. “We are anticipating high interest in these new neighborhoods that will be built to meet the needs of Northern California homebuyers.”
Presidio has committed $7 million to help build Woodbury at Davis Ranch and $18 million to build The Village at Fair Oaks.
Woodbury, located at 10850 Fair Oaks Blvd., is being built on the last remaining parcel of the Davis family ranch, established by Walter Magnum Davis and his wife, Oma Bennett Davis, in the early 1900s. The historic area has established services and easy access to major employers including Aerojet, Intel, the Sunrise Mall and Birdcage Center shopping centers, light rail and schools in the highly ranked San Juan Unified School District as well as many private and parochial schools. Folsom Lake and the American and Sacramento rivers are within five miles of the site, and Lake Tahoe is a one-hour drive. Woodbury is expected to be complete by end of 2016.
The Village at Fair Oaks, located at 5385 Sablewood Dr. off of Madison Ave, offers three and four bedroom two-story homes with two-car garages, generous open space with a sitting area under mature oak trees and 32 guest parking spots. The community is located within 10 miles of major employers, including Intel Corp., Delta Dental and Aerojet Rocketdyne, and close to Sunrise Mall and to downtown event centers via easy freeway access to safe. Pedestrian access and bike trails to the American River are two miles away, and community residents will have access to boating and rafting on the nearby Sacramento River. The Village at Fair Oaks is expected to be complete by the end of 2017.
About Presidio
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $500 million into the economy to capitalize the housing industry. The firm’s goal is to fund an additional $250 million in capital for home-building projects in the Western United States, and it currently has investments in Arizona, California, Colorado, Nevada, and Washington. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2 billion. Presidio is a member of the Building Industry Association of San Diego. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.
About Watt Communities
Founded in 1947 by Ray Watt, this third-generation family-owned business is a multi-faceted company. The company successfully grew from a small building business to a large real estate development organization credited with more than $6 billion in completed projects. Watt Communities is highly regarded in the home building industry as a premium quality builder. The company is widely recognized by industry leaders, financial institutions, and the brokerage community for its expertise in community entitlements, land acquisition and development, home building operations, and financial management. www.wattcommunities.com
