San Diego-based firm investing more than $18 million in 5-acre infill housing project
A local new-home project will get a shot in the arm from a California investor.
San Diego-based Presidio Residential Capital is investing more than $18 million in a 5-acre infill housing project on West Cheyenne Avenue east of the 215 Beltway.
Infill means the land is a vacant parcel surrounded by existing development.
The neighborhood, which Summit Homes plans to build, will have 36 two-story homes with energy-efficient features such as radiant heat-barrier roof sheathing and interior finishes including marble countertops.
Neither party gave a starting price for the homes, but Summit Vice President Nathan White said home sale revenue should surpass $9 million. The community also will have walking paths and a playground. It’s scheduled to open for sales in January.
Contact reporter Jennifer Robison at jrobison@reviewjournal.com or 702-380-4512. Follow @J_Robison1 on Twitter.