16.7-Acre Neighborhood Will Include Parks, Open Space and Trails
TEMPLETON, CA--(Marketwired - Mar 1, 2016) - Presidio Residential Capital and Coastal Community Builders have broken ground on Templeton Ranch, a 16.7-acre community that will offer 40 single-family homes and 67 planned-unit developments at 221 North Main Street in Templeton, Calif. Vertical construction will begin in the spring, and homes will be open for sale by early summer. The retail value of this residential community, which is expected to be complete in fall 2017, will exceed $44 million.
The three-bedroom, two-plus-bathroom homes with two-car attached garages ranging in size from 1,263 to 2,312 square feet, will be built on lots ranging from 2,600 to 6,636 square feet. Six floor plans will be offered in Craftsman, Spanish and Farmhouse styles, and Templeton Ranch will include five parks, riparian open space and a pedestrian trail on approximately two acres.
Once the last stop on the stagecoach trail to San Luis Obispo, Templeton is located in the heart of the Central Coast wine region and within easy access of the 101 and the communities of Paso Robles, Atascadero, San Luis Obispo, Pismo Beach and Morro Bay. It's close to major employers such as Atascadero State Hospital, California Men's Colony, San Luis Obispo County Unified School District and multiple agricultural and cattle ranches. Amtrak, Greyhound, area transit and airports are nearby, and the community has easy access to numerous wineries, Lake Nacimiento, Lake San Antonio, Ravine Water Park, and Hearst Castle. The beaches are 45 minutes away.
"Templeton is a beautiful community with a rich history here on the Central Coast," said Dave Daniels, Coastal Community Builders' CEO. "We are pleased and honored to be providing new homes in this community and look forward to a long relationship."
Coastal Community Builders is the seller, broker and general contractor. Templeton Ranch is Coastal Community Builders' 15th joint venture with Presidio Residential Capital. Together, the companies have built more than 780 new housing units on California's Central Coast.
According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 107 single-family homes will generate $30.7 million in local income, $3.8 million in taxes and other revenue for local governments and 422 local jobs.
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.