The community developing in the foothills promises to be one of the most beautiful in the area, rivaling those in the El Dorado Hills area for views, as reported by the Sacramento Bee.
“Plans to build more than 10,000 homes across the dry, rolling foothills south of Highway 50 in Folsom are shifting into high gear in response to a housing market that has gone from “zero to 60” in a matter of months, housing experts said.
“The 3,500-acre swath of cattle-grazing land that the city of Folsom annexed last year is one of the largest and most anticipated areas for residential construction in the Sacramento region. The market turnaround in the past year has renewed momentum for plans to build there.
“People were muddling through, and then we went from zero to 60, and everybody’s trying to do it at once,” said Greg Paquin, head of the Folsom-based Gregory Group, a home industry consultant.
“Late last month, the New Home Co., based in Southern California, announced it had bought 431 acres of the former Russell Ranch from a partnership controlled by longtime developer Angelo K. Tsakopoulos. The price was not disclosed.
“The company intends to build 900 homes on hillsides with sweeping views that extend to the Sacramento skyline, Folsom Lake and the Sierra. The goal is to start preparing the land next year and begin building by the end of 2015, said Kevin Carson, New Home’s Northern California president.
“When the deal closed, Carson took the company’s two dozen employees up a gravel road to a windswept hilltop to celebrate.
“I told everyone that their children’s children’s children, when they drive to Lake Tahoe, are going to look at those hillsides,” Carson said. “It’s a very prominent location in the most desirable area in the region. From a home builder’s standpoint, it’s the absolute best location.”
“The company’s plans call for homes to look west across the Central Valley to the Coast Ranges, with jogging and biking paths following natural swales and connecting to a 3- acre community and recreation center.”