Local Home Builder Plans to Open at Least Six New Communities in the Central Valley This Year
VISALIA, Calif. – February 10, 2022 – San Joaquin Valley Homes (SJV Homes) was by far the most active builder in the San Joaquin Valley in 2021, closing 449 homes, opening six or more new communities and selling out at three other neighborhoods.
SJV Homes was particularly busy in Tulare and Kings counties last year, with more building permits pulled than any other builder, including some of America’s top public homebuilders. It pulled 481 building permits in 2021 – almost twice as many as its closest competitor, according to data provided by the Construction Monitor, which tracks building records nationwide.
The momentum will continue into 2022 when SJV Homes will open new home communities in addition to the 12 currently open for sale. The local builder expects to close its 3,000th home in April, all within an approximate 40-mile radius of its home base in Visalia, Calif.
“The Central Valley is not immune to the housing shortage across California,” said Joe Leal, company co-founder. “During the pandemic – and especially in recent months – we’ve seen a surge of homebuyer interest locally and from other parts of the state. The interest list for most of our communities is high, with new homes selling out immediately with the release of a new phase.”
The Central Valley has historically been one of the most affordable places to live in California. But increased demand for housing, partly due to an influx of new residents from less affordable parts of the state, has exacerbated the already tight housing market. For example, Tulare County is short more than 11,000 affordable housing units, according to the California Housing Partnership, and Kings County needs an additional 4,000 units, though it is just one third the size of Tulare.
Local rents have climbed almost 25 percent over the past 12 months, and more than 50 percent of lower income households pay more than half their income on housing costs, according to the non-profit housing finance organization.
The following is a breakdown of SJV Homes’ current communities:
Tulare County
Arbor Gates, Visalia: 91 units
Cameron Creek, Visalia: 30 units (sold out)
Tiffany Ranch, Visalia: 78 units
Greystone, Visalia: 187 units
Kensington, Tulare: 248 units
Kings County
Hidden Oaks, Hanford: 108 units
Sterling Oaks, Hanford: 106 units
Bella Vista, Hanford: 247 units
Bonterra, Hanford: 300 units
Fresno County
Summerlyn, Kingsburg: 166 units
San Rio, Reedley: 150 units
Kern County
Quail Run, Delano: 133 units
Pheasant Court, Delano: 148 units
Upcoming SJV Homes neighborhoods are Vista del Sol in Visalia, Montebella in Dinuba, Cypress Park and Stonebrook in Tulare and Laurelwood and Brookside in Porterville.
All SJV Homes’ projects are part of a joint venture partnership with Presidio Residential Capital, a San Diego-based real estate development management company. To date, SJV Homes and Presidio have partnered on more than 30 projects totaling more than 4,500 units.
About San Joaquin Valley Homes
San Joaquin Valley Homes (SJV Homes) is a local homebuilder with deep roots in and a strong commitment to the Central Valley. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision to build quality new homes in carefully planned neighborhoods for people who love the Valley and want lasting value. In 2013, SJV Homes combined forces with Presidio Residential Capital, a real estate development management firm in San Diego. It has since closed more than 2,500 homes and is now one of the busiest homebuilders in the San Joaquin Valley. For more information, please visit www.sjvhomes.com.
About Presidio Residential Capital
Presidio Residential Capital is a real estate development management company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1.5 billion into the economy to capitalize the housing industry. The firm’s goal is to invest in excess of $100 million in capital for home-building projects in the Western United States in the next 12 months. It targets builders in Arizona, California, Nevada, Washington, Idaho, Colorado and Utah with current committed capital of $250 million focused on 40 plus projects. 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. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.
