San Diego-based real estate investment company Presidio Residential Capital says it has partnered with Sacramento home builder BlackPine Communities to build a $22 million, 86-home community on 71 acres at Curtis Park Village.
The urban infill development, at Sutterville Road and 24th Street, is situated on a former Union Pacific railyard between the tracks bordering Sacramento City College on the west and the Curtis Park neighborhood on the east.
Presidio said a sales office will open in April, when construction will commence. BlackPine said it plans to build and sell the first 29 homes by year’s end.
Paul Petrovich of Petrovich Development Co. in Sacramento is the developer of the property, having spent millions over a decade to clean up and attain approvals for the site.
The housing project is the third Sacramento-area home-building announcement in as many weeks by Presidio. Two weeks ago, Presidio announced a partnership with Santa Monica home builder Watt Communities to build a $13.5 million, 46-home community, called AutumnWood, on nine acres along Antelope Road in Citrus Heights. The week before that, Presidio and Watt announced plans to build an $18 million, 55-home community on six acres along Madison Avenue, just south of Citrus Heights.
Call The Bee’s Mark Glover, (916) 321-1184.