Construction on new homes is scheduled to start next month in the long-planned Curtis Park Village development on the former railyard between Curtis Park and Sacramento City College.
Presidio Residential Capital, a San Diego real estate investment company, this week said it has partnered with Sacramento home builder BlackPine Communities to build a $22 million, 86-home community on 7.6 acres of the 72-acre property just north of Sutterville Road.
Presidio said a sales office will open in April, when construction will start. BlackPine said it plans to build and sell the first 29 homes by years end.
Sacramento developer Paul Petrovich has spent millions of dollars to clean up the property and get development approvals since buying it from Union Pacific over a decade ago.
Petrovich said in an email Tuesday that other home builders have expressed interest in buying lots. Curtis Park Village is planned for more than 500 dwellings, including nearly 300 single-family homes.
The years-long development process has sometimes been bumpy, including a recent flap involving Petrovichs plan to shrink the communitys park and build houses on land meant to be open space. Petrovich says the redesigned park is the best solution to a difficult drainage problem. Some residents have strenuously objected to the proposed park size reduction and called for options other than building more homes on the land. City officials said Tuesday that discussions to resolve the dispute are ongoing.
The Presidio release said Petrovichs company invested $30 million in toxic cleanup at the site and another $15 million in initial infrastructure, including underground utilities, streets and sewers.
In addition to housing, plans for the development envision a sizeable amount of retail construction, including a potential grocery store. Petrovich has not publicly announced any commercial tenants to date. On Tuesday, he declined to comment on whether any had been signed.
Paul Lucatuorto, principal with Presidio, called the Curtis Park area an iconic location in Sacramento, and said the cottages and brownstones that BlackPine has designed will integrate seamlessly into the fabric of the neighborhood. He added that there are more than 100 interested buyers on a waiting list.
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 Mike Paris, president of BlackPine. 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 said it 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, plus 12 cottage plans ranging from 1,500 to 2,200 square feet. BlackPine said architectural touches will complement the Curtis Park neighborhood.
The Curtis Park Village 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 9 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 6 acres along Madison Avenue, just south of Citrus Heights.
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