Presidio Residential Capital congratulates its joint venture partner San Joaquin Valley Homes (SJV Homes) for posting a record year in 2019, closing 465 homes, selling out four existing communities and opening seven new ones in a busy and highly successful year.
SJV Homes was the most active homebuilder in Tulare and Kings counties last year, with more building permits pulled than any of its rivals in the Valley, including three of America’s top builders – Lennar, D.R. Horton and Woodside Homes.
Most of these communities were in Tulare County, where Visalia-based SJV Homes has long been the dominant builder. It pulled twice as many permits as its closest competitor, according to data provided by the Construction Monitor, which tracks building records nationwide. But it also dominated the housing market in Kings County with three home communities for sale in the county seat of Hanford.
“In the six years since SJV Homes was founded, we have grown steadily by building much-needed affordable housing in the Valley while generating hundreds of local jobs and supporting our local government with substantial tax and related revenue,” said Joe Leal, company co-founder. “To date we have sold more than 2,000 homes. Our goal for 2020 is to open as many as six new neighborhoods in the Central Valley.”
In 2019, SJV Homes opened new projects roughly every two months: Summerlyn, 150 units in Kingsburg; Bonterra, 143 units in Hanford; Vista Robles, 138 units in Dinuba; Kensington, 134 units in Tulare; Ashton Park, 93 units and Greystone, 124 units in Visalia; and Cambria, 80 units in Porterville.
Last year the builder sold out Catalina, 51 units in Visalia; Savannah, 231 units in Tulare; Viscaya, 124 units in Dinuba; and Tuscany, 116 units in Bakersfield.
All of these projects are a joint venture partnership with Presidio Residential Capital, a San Diego-based real estate investment company. To date, SJV Homes and Presidio have partnered on 23 projects totaling more than 2,600 units.