Local homebuilder San Joaquin Valley Homes (SJV Homes) announced it has purchased 37 acres of raw land on Jensen Street between St. John's Parkway and Houston Avenue in Visalia and plans to build 144 single-family homes. Grading will begin in June, and a grand opening at the new neighborhood, called Pine River Estates, is scheduled for October 2016.
"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."
This development is the ninth project that SJV Homes has developed in a joint venture with Presidio Residential Capital, a San Diego-based real estate investment company.
Pine River Estates will offer five different three- and four-bedroom floorplans with three elevations each, ranging in size from 1,443 square feet to 2,100 square feet, on lots averaging 6,700 square feet.
The community is easily accessible to Highway 99 and major employers, including Kaweah Delta District Hospital, College of the Sequoias and CIGNA Healthcare. In addition, this community is across the street from St. John's River Trail for those who like to bike, run or walk their dogs.
Pine River Estates' homeowners will be close to elementary, middle and high schools. Also, these homeowners will have the opportunity to catch a baseball game at nearby Rawhide Stadium or dine at a restaurant in historic downtown Visalia. Pine River Estates is less than an hour away from Fresno and the Fresno Yosemite International Airport.
Since it was founded in 2013, SJV Homes has developed five neighborhoods in Tulare County, one in Kern County and two properties in Kings County, the nation's second fastest growing urban county. The developer plans to begin work on three more communities this year. SJV Homes has grown from one home closing in its first year to 242 home closings in 2015.
According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 144 single-family homes will generate $41.3 million in local income, $5.1 million in taxes and other revenue for local governments and 567 local jobs.