Presidio Residential Capital Sells Evergreen, an 18-Acre Community in Morgan Hill, Calif.

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MORGAN HILL, Calif., Dec. 07, 2018 (GLOBE NEWSWIRE) -- has sold an 18-acre property known as Evergreen located on the northeast corner of San Pedro Avenue and Condit Road in the City of Morgan Hill.  The site was sold with full entitlements for 182 apartments and 74 homes and townhomes.

“Silicon Valley has one of the strongest economies in the United States, and it is in dire need of affordable housing,” said Presidio asset manager Phil Rush. “We’re confident that Van Daele Homes and The Ezralow Company will serve this community well.”

Evergreen at Morgan Hill consists of two contiguous parcels of land, 8.54 acres at the northeast corner of San Pedro Avenue and Condit Road where the apartments are located and 9.64 acres at the northwest corner of San Pedro Avenue and Murphy Avenue where the detached homes and townhomes are located. The site is located about one mile from Highway 101 and 25 miles from San Jose International Airport.

Silicon Valley is home to 14 Fortune 500 corporations, including Apple, Google and Cisco Systems, and offers abundant employment opportunities. Employment in Silicon Valley is expected to grow at an annual rate of 2.1 percent through 2019, exceeding the national employment growth rate of 1.8 percent.

Media Contacts: Anton CommunicationsVanessa Showalter  Genevieve Anton 

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Globe Newswire: 14:11 GMT Friday 7th December 2018

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