SAN DIEGO, Jan. 19, 2018 (GLOBE NEWSWIRE) -- Cornerstone Communities and Presidio Residential Capital have opened sales on the first phase at Tesoro at Vista del Sur, a collection of 134 upscale townhomes near the Ocean View Hills area in South San Diego.
“With rich amenities and recreational opportunities within the community and at Pacific Gateway Park next door, this neighborhood offers surprisingly affordable townhomes in desirable South County and easy commuting, with quick access to the 905 Freeway,” said Michael Sabourin, president and COO of Cornerstone Communities. “We expect sales to be brisk.”
The three-story townhomes at Tesoro, ranging in size from 1,410 to 1,702 square feet, feature three bedrooms and 2.5 baths with exteriors influenced by Santa Barbara, Coastal Tuscan and California Craftsman architecture. The townhomes are the only attached homes in the market that offer enclosed private yards.
The neighborhood includes a recreation area, a community pool and spa, a barbecue with seating areas, a playground and walking path. According to Cornerstone, the townhomes are located within walking distance of excellent elementary, middle and high schools.
In a joint venture partnership, Presidio Residential Capital and Cornerstone Communities are also developing The Preserve, 535 units in Carlsbad, Calif.; Pacific Ridge, 317 units in Oceanside, Calif.; Calistoga at The Promontory, 64 units in Murrieta, Calif., and Otay Ranch, 225 units in Chula Vista, Calif.
About Cornerstone Communities
The management team at Cornerstone Communities is comprised of a seasoned group of development and building professionals possessing over 150 years of combined experience in the homebuilding field having developed, mapped, and/or constructed over 15,000 homes in over 60 developments throughout California and Nevada. Professional Builder magazine heralded the group as one of the nation's Building Giants. Cornerstone has been consistently ranked as one of San Diego's top privately held residential homebuilders by the San Diego Business Journal and was recently recognized as one of the Top 500 Privately-Held Businesses in the U.S. by DiversityBusiness.com.www.cornerstonecommunities.com
About Presidio
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1 billion into the economy to capitalize the housing industry. The firm’s goal is to invest in excess of $150 million in capital for home-building projects in the Western United States in the next 12-plus months. It currently has investments in Arizona, California, Nevada, Colorado and Washington with current committed capital of $800 million focused on 100+ 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. Current assets under management total more than $2.5 billion. Online and social media: www.presidioresidential.com, Facebook Twitter and LinkedIn.
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