18-acre neighborhood, 126 homes to be built
BlackPine Communities and Presidio Residential Capital will break ground in this month on a new 18-acre community that will offer 126 single-family homes within Lewis Planned Communities’ Parkshore Master Plan in Folsom.
Homes will open for sale in summer 2017, and the community is expected to be completed by the third quarter of 2019. The retail value of this development is $68.5 million.
“This new community will have ideal amenities for families and professionals with incredible access to trails, lakes and natural open space,” said Michael E. Paris, founder and president of BlackPine Communities.
Located at Parkshore Drive and Folsom Boulevard, the modern farmhouse-style homes on 45-by-70-foot lots will have open floor plans and emphasize outdoor living.
A park will ring the perimeter of the community, which will also include a recreation center with a swimming pool, a nature preserve and direct access to extensive bike trails.
Residents are in close proximity to Folsom Lake and the American River.
For commuters, the new community will be a seven minute walk from a light rail station that connects to downtown Sacramento. Old Town Folsom is just five minutes away.
According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 126 single-family homes will generate $36 million in local income, $4.5 million in taxes and other revenue for local governments and 495 local jobs.
This is BlackPine’s third project with Presidio. These two companies also partnered to build Curtis Park Village, a community with 86 units in Sacramento, and The Creamery, with 117 units in Sacramento.