Watt Communities and Presidio Residential Capital to Build $25 Million Community Offering 43 Single-Family Homes in West Hills, Calif.

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WEST HILLS, Calif., March 13, 2018 (GLOBE NEWSWIRE) -- and have acquired 1.91 acres in West Hills, Calif., where they plan to build a new gated community with 43 single-family homes. The joint venture partners expect to break ground in August 2018 and begin vertical construction in December 2018 on the neighborhood. The retail value of this project is expected to exceed $25 million.

“With its beautiful rolling hills and tranquil lifestyle, West Hills is one of the hottest sleeper markets in the Los Angeles metro area, and we’re pleased we can relieve the pressure on homebuyers with this beautiful new neighborhood,” said Nam Joe, division president for Watt Communities, which specializes in infill development. “We are anticipating high interest in this new community.”

This residential project will offer lots ranging in size from 1,900 to 2,290 square feet at the infill site, which is located at 22135 Roscoe Boulevard in West Hills, just off the 101 freeway in the San Fernando Valley. West Hills offers small-town, family-friendly charm with many trees and parks and is just 30 minutes from downtown Los Angeles.

According to in typical metro areas, adding 43 single-family homes will generate $12.3 million in local income, $1.5 million in taxes and other revenue for local governments and 30 local jobs.

This project is Watt Communities’ 5 joint venture project with Presidio Residential Capital, a San Diego-based real estate investment company.

Media Contacts: Anton CommunicationsVanessa Showalter  Genevieve Anton 

More news and information about Presidio Residential Capital

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Globe Newswire: 22:06 GMT Tuesday 13th March 2018

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