Welcome!

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
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
"When we talk about cloud without compromise what we're talking about is that when people think about 'I need the flexibility of the cloud' - it's the ability to create applications and run them in a cloud environment that's far more flexible,” explained Matthew Finnie, CTO of Interoute, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.