LACEY, WA--(Marketwired - Jun 15, 2015) - Presidio Residential Capital and Summit Homes of Washington have begun building model homes at Puget Meadows, a new community located at 8953 31st Avenue N.E. in Lacey that will offer 37 single-family homes starting in the $200,000s. Presidio has committed $5.3 million to help build this community. The retail value of this project will exceed $11.4 million.
Construction has begun on two production homes and one model home. Three different three- to five-bedroom, two-and-a-half- to three-bathroom floor plans ranging from 2,033 to 2,687 square feet will include lofts, dens and bedroom suites.
"Puget Meadows is a quiet enclave in the center of a natural paradise," said Tim Easter, vice president of sales and marketing for Summit Homes of Washington. "Clean air, clean water, outstanding schools, a low crime rate, a healthy economy and close proximity to major metropolitan areas make this community one of the most desirable places in the country to live."
Located within the North Thurston School District and near employment and shopping centers, Lacey has five freshwater lakes within the city, miles of hiking and biking paths, several championship golf courses, more than 1,100 acres of public parkland and the 3,700-acre Nisqually National Wildlife Refuge, which provides unlimited opportunities for outdoor recreation.
Presidio Residential Capital and Summit Homes of Washington have partnered on 10 projects with more than 300 units in Washington.
According to the National Association of Home Builders' formula to determine the local impact of single-family housing in typical metro areas, adding 37 single-family homes will generate $10.6 million in local income, $1.3 million in taxes and other revenue for local governments and 146 local jobs.
Presidio Residential Capital is a real estate investment company focused on the residential housing sector. Headquartered in San Diego, Calif., the firm provides capital for the entitlement, development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $500 million into the economy to capitalize the housing industry. The firm's goal is to fund an additional $250 million in capital for home-building projects in the Western United States, and it currently has investments in Arizona, California, Colorado, Nevada, and Washington. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Current assets under management total more than $2 billion. Presidio is a member of the Building Industry Association of San Diego. Online and social media: www.presidioresidential.com, Facebook, Twitter and LinkedIn.