April 16, 2014 - 12:52 pm
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.
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