New Suburban Development in Folsom

This is very good news, more homes in the suburban communities where a majority of Americans want to live, as reported by the Sacramento Bee.

An excerpt.

The most anticipated new housing community in the Sacramento region goes “vertical” next week south of Highway 50 in Folsom with the construction of model homes, followed by homes for sale.

Early buyers could be living on the oak-studded hillside by the end of the year, builders say.

The project site is massive at 3,300 acres, just south of the freeway and north of White Rock Road, between Prairie City Road and the El Dorado County line. It will contain nearly 11,000 homes and apartments, three public schools, two fire stations, a police station and 82 acres of office and commercial buildings.

Folsom Mayor Steve Miklos, serving his last term on the council, says he stuck around partly just to see this day.

“We took our time and did something very unique,” he said.

The community ultimately will house 25,000 residents, enlarging the city of Folsom by one-third. It will bring new home-buying opportunities, but also growth pains.

Here’s an early look at what the project means for home buyers, east county residents and Highway 50 commuters.

How much will homes cost?

Folsom has built a reputation as a desirable place to live. New homes are in short supply in the region. The result: Buyers will pay a premium to live in the new community, which is divided into Folsom Ranch and Russell Ranch.

The price range is wide, with some of the first homes for sale this year in the high $400,000s to $600,000s. By comparison, the median price for a new home sold in February in Sacramento County was $419,000. And the median for a resale home was $330,000.

Taylor Morrison home builder division chief Aren Bazzocco said his company will begin selling homes the first week of June. He said he feels like a pioneer but expects his company’s houses to sell well. Taylor Morrison has 1,000 people on its interest list for 206 homes. Square footage is roughly between 1,800 and 3,100, and prices start in the high $400,000s.

Retrieved May 21, 2018 from http://www.sacbee.com/news/business/real-estate-news/article211168769.html

 

About David H Lukenbill

I am a native of Sacramento, as are my wife and daughter. I am a consultant to nonprofit organizations, and have a Bachelor of Science degree in Organizational Behavior and a Master of Public Administration degree, both from the University of San Francisco. We live along the American River with two cats and all the wild critters we can feed. I am the founding president of the American River Parkway Preservation Society and currently serve as the CFO and Senior Policy Director. I also volunteer as the President of The Lampstand Foundation, a nonprofit organization I founded in 2003.
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