TTLC announces the aboriginal two sales of home sites at its 199-acre, 976-unit Sterling Meadows master-planned association in Elk Grove, CA. The aboriginal 60 home sites were awash to K. Hovnanian Homes. The additional set of 69 home sites (pictured) was awash to Richmond American Homes.
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SAN RAMON, CA, Feb. 06, 2018 (GLOBE NEWSWIRE) — The True Life Companies (TTLC) is admiring to advertise the aboriginal two sales of home sites at its 199-acre, 976-unit Sterling Meadows master-planned association in Elk Grove, CA, a awful admired suburb of Sacramento. The aboriginal 60 home sites were awash to civic architect K. Hovnanian Homes, which bankrupt in mid-December. The additional set of 69 home sites was awash to Richmond American Homes, which bankrupt in mid-January. These two closings are allotment of three contempo aggregate affairs in the North Village appearance of Sterling Meadows, with a absolute of 460 lots. The third auction of home sites is currently in escrow.
According to Aidan Barry, Senior Vice President of Development, TTLC, “The auction of these home sites to K. Hovnanian and Richmond American are accomplished examples of our company’s charge to bear developed lots on time, and on budget, to the industry’s arch home builders.”
Homes at North Village will accommodate bristles artefact types to be offered by three altered home builders, and will be advised to abode the needs of both entry-level and first-time move-up buyers. The actual home sites are accepted to abutting escrow in the advancing months, with archetypal homes for the new neighborhoods aperture by the boilerplate of 2018. Prices will acceptable initially ambit from the mid-$300,000s to the $500,000s.
The timing of these releases is accepted to advice abode the pent-up appeal for new apartment in the Sacramento area. As of November 2017, the Sacramento Association of Realtors® appear aloof 1.7 months of for-sale apartment account adjoin 3.4 months nationally. In general, a accumulation of six months is about advised balanced. At the aforementioned time, the accumulation appear a boilerplate single-family home auction bulk of $348,250, up 7.2 percent over the antecedent year and about 79 percent college back the aforementioned ages of 2012.
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A primary agency active the access in home prices is the abridgement of new housing. Between 2012 and 2016, based on architecture admittance totals from the Census Bureau, citizenry estimates from the California Department of Finance and an boilerplate domiciliary admeasurement of 2.7 persons, the four-county Sacramento Metropolitan Statistical Breadth (MSA) averaged aloof over 5,000 permits per year adjoin a charge for about 7,800. In total, aloof from this five-year aeon alone, abeyant apartment appeal outpaced accumulation by over 14,000 units.
“To abode this abiding apartment shortage, The True Life Companies is advance heavily in the Sacramento region, with over 700 approaching home sites in our pipeline,” said Scott Clark, Chairman and CEO, TTLC. “We’re additionally attractive to catechumen under-utilized infill backdrop to a residential use, thereby allowance to accommodated the actual appeal for buildable lots by home builders, homebuyers, and bounded municipalities.”
Sterling Meadows is adjoining to The Outlet Collection at Elk Grove, a bounded retail centermost accepted to be completed in 2018, and which will accommodate over 100 shops as able-bodied as a 14-screen cine theater, alfresco dining and a children’s comedy area. Additionally in planning abutting aperture to The Outlet Collection is the Wilton Rancheria Resort casino, which will accommodate a 12-story, 302-room auberge and spa, assemblage center, six restaurants and confined as able-bodied as a 110,260-square-foot gaming floor. Located aloof one quarter-mile from Highway 99, association of the association will adore an accessible drive to job centers throughout the Sacramento area.
At Sterling Meadows itself, assignment is already underway on a different association esplanade with a music affair developed in accord with the bounded Association Services District. With over $5 actor invested, the 13.7-acre esplanade will accessible in 2018 and accommodate accessories for soccer, basketball, tennis, volleyball, fettle stations and a tot lot, but that’s aloof the start.
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“In adjustment to actualize a different faculty of abode for the absolute community, the music affair is present throughout the park, with autogenous pathways akin the acute cleft, which is a key agreeable element,” explained Aidan. “Even the comedy areas and baptize comedy areas are envisioned to accommodate music-themed equipment, while both the plazas and baptize comedy areas will accept agreeable addendum and symbols inlaid into the pavement.”
In adjustment to backpack the affair above the park, artery names are additionally angry to music, with the barring of one key artery to be called for a collapsed aggressive adept of Elk Grove.
Future home armpit development at Sterling Meadows is additionally included in the South Village, with a absolute of 486 lots, which TTLC is planning to advance and bazaar for auction starting in 2018.
“With civic new home sales afresh ascent by the better bulk in 25 years and the accomplished absolute in over 10 years, we are well-positioned to accommodate advancing home armpit account to the industry’s best builders,” added Clark.
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The True Life Companies is composed of a aggregation of awful acknowledged residential absolute acreage professionals who assignment calm with acreage owners, municipalities, and bounded stakeholders to abode the charge for acceptable apartment options in high-need communities. The aggregation seeks to authorize burghal and burghal infill apartment options that are the aftereffect of astute research, avant-garde planning and artistic collaboration. TTLC is headquartered in Denver, Colorado, with offices in Folsom, California; San Ramon, California; and Scottsdale, Arizona.
For added advice apropos TTLC’s acreage portfolio, amuse appointment www.TheTrueLifeCompanies.com.
A photo accompanying this advertisement is accessible at http://www.globenewswire.com/NewsRoom/AttachmentNg/bfff8a10-7138-431d-9f32-8c5f3a5d1d26
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A photo accompanying this advertisement is accessible at http://www.globenewswire.com/NewsRoom/AttachmentNg/f42a03f6-1ae3-466a-9e11-0f50bcdd5455
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