Click here to close now.

SYS-CON MEDIA Authors: Leon Fayer, Ruxit Blog, Carmen Gonzalez, Kevin Jackson, Peter Silva

News Feed Item

Presidio Residential Capital Partners With BlackPine Communities to Build First Homes at Curtis Park Village

Centrally Located World-Class Urban Infill Community Combines Best Practices in Land Planning, Brownfield Reclamation and Transit-Oriented Design

SACRAMENTO, CA -- (Marketwired) -- 02/27/14 -- Presidio Residential Capital has partnered with BlackPine Communities to build 86 new homes at Curtis Park Village, a 71-acre mixed-use urban infill community on a former Union Pacific rail yard adjacent to one of Sacramento's most sought-after legacy neighborhoods. Presidio has committed $22 million to build the development's first homes; construction will begin and a sales office will open in April.

"We're excited to be involved with Mike Paris of BlackPine Communities and his vision for Curtis Park Village," said Presidio Residential Capital Principal Paul Lucatuorto. "The Curtis Park area is an iconic location in Sacramento, and the cottages and brownstones that BlackPine has designed will integrate seamlessly into the fabric of the neighborhood. With more than 100 interested buyers already on a waiting list, apparently homebuyers also recognize this unique opportunity to purchase a new home in this historic area located so close to downtown Sacramento."

BlackPine Communities plans to build and sell the first 29 homes at the $400 million Curtis Park Village development -- "one of the city's largest infill, brownfield projects in many years" -- by year's end, said BlackPine President Mike Paris. Curtis Park Village is entitled to build 181 single-family homes and 334 multifamily units.

"This is one of the most sought-after areas in the city, with a lot of history and classic architecture in the Land Park and Curtis Park neighborhoods," said Paris. "Curtis Park has developed into an eclectic area that continually revives itself with new flavor, mix and character. Our project is going to be a revival of the past with present-day materials and skills. We will play off of history and tradition but will continue to evolve and grow our product offerings."

BlackPine is offering three brownstone plans ranging from 2,000 to 2,900 square feet, 2,050- to 2,850-square foot "traditional" plans featuring five architectural styles and 32 different street perspectives, and 12 cottage plans ranging from 1,500 to 2,200 square feet. With unique architectural expressions that seamlessly complement the iconic Curtis Park neighborhood, the solar-ready homes will include custom cabinetry, high-end GE appliances, private gated driveways with rear-load garage access and front yard landscape maintenance. Residents will have access to a community park and extensive walking trails.

"Curtis Park Village is now recognized as one of the best urban-infill, smart-growth brownfield conversions in the United States," said the developer of the property Paul Petrovich of Petrovich Development Co., which has completed a $30 million toxic cleanup of the site and invested $15 million in initial infrastructure, including underground utilities, streets and sewers. The development will feature retail stores and housing for all income levels including both single family and multifamily units.

Located a mile and a half from downtown Sacramento, Curtis Park Village is close to major employers, including state and county municipal offices, several hospitals, Aerojet/GenCorp and California State University-Sacramento. An $11.5 million pedestrian and bicycle bridge will link residents to a shopping center and a nearby light rail station at Sacramento City College.

"If you look back at the history of this site, it's essentially the same as it was when the rail yard was built in1904. The city was built around it," Paris said. "Curtis Park reconnects the city grid. We're actually going to complete the grid that was originally planned in the late 1800s."

According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 86 single-family homes will generate $18 million in local income, $1.9 million in taxes and other revenue for local governments, and 279 local jobs. BlackPine Communities estimates the project will create 289 temporary construction jobs.

According to Petrovich Development, building the community's first phase of infrastructure created 800 construction jobs and the second phase will create another 700. When the project is completely built out in about three years, Petrovich expects it to generate 650 full-time jobs.

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 both levered and non-levered equity and non-recourse construction financing for for-sale residential focused development opportunities throughout the Western United States. Presidio has infused more than $250 million into the economy to capitalize housing development and construction. The firm's goal is to fund in excess of $500 million in debt and equity for home building projects in the Western United States, and currently has investments in California, Hawaii, Texas, Idaho 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. www.presidioresidential.com

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that FierceDevOps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. FierceDevOps keeps software developers and IT operations personnel updated on the latest news and trends around the rapidly evolving role of the traditional IT worker.
GENBAND has announced that SageNet is leveraging the Nuvia platform to deliver Unified Communications as a Service (UCaaS) to its large base of retail and enterprise customers. Nuvia’s cloud-based solution provides SageNet’s customers with a full suite of business communications and collaboration tools. Two large national SageNet retail customers have recently signed up to deploy the Nuvia platform and the company will continue to sell the service to new and existing customers. Nuvia’s capabili...
WHOA.com has announced the newest addition to its data center footprint with the expansion into Equinix's newest state-of-the-art facility: DC-11 Washington, DC IBX+. Located in Ashburn, VA, this data center expands Whoa.com's presence to meet rapidly expanding customer demand for secure cloud solutions. Equinix, Inc. operates International Business Exchange™ (IBX®) data centers in 32 markets across 15 countries in the Americas, EMEA, and Asia-Pacific. Equinix is committed to operating faciliti...
SYS-CON Events announced today that the DevOps Institute has been named “Association Sponsor” of SYS-CON's DevOps Summit, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. The DevOps Institute provides enterprise level training and certification. Working with thought leaders from the DevOps community, the IT Service Management field and the IT training market, the DevOps Institute is setting the standard in quality for DevOps education and training.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that Cisco, the worldwide leader in IT that transforms how people connect, communicate and collaborate, has been named “Gold Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cisco makes amazing things happen by connecting the unconnected. Cisco has shaped the future of the Internet by becoming the worldwide leader in transforming how people connect, communicate and collaborat...
WSM International is launching a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. This is the first independent services company to create a dedicated practice to help organizations looking to transition to the DevOps model. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of ...
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
Temasys has announced senior management additions to its team. Joining are David Holloway as Vice President of Commercial and Nadine Yap as Vice President of Product. Over the past 12 months Temasys has doubled in size as it adds new customers and expands the development of its Skylink platform. Skylink leads the charge to move WebRTC, traditionally seen as a desktop, browser based technology, to become a ubiquitous web communications technology on web and mobile, as well as Internet of Things...
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
DevOps tasked with driving success in the cloud need a solution to efficiently leverage multiple clouds while avoiding cloud lock-in. Flexiant today announces the commercial availability of Flexiant Concerto. With Flexiant Concerto, DevOps have cloud freedom to automate the build, deployment and operations of applications consistently across multiple clouds. Concerto is available through four disruptive pricing models aimed to deliver multi-cloud at a price point everyone can afford.
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Docker is an excellent platform for organizations interested in running microservices. It offers portability and consistency between development and production environments, quick provisioning times, and a simple way to isolate services. In his session at DevOps Summit at 16th Cloud Expo, Shannon Williams, co-founder of Rancher Labs, will walk through these and other benefits of using Docker to run microservices, and provide an overview of RancherOS, a minimalist distribution of Linux designed...
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...