Pathfinder Partners LLC, in partnership with D.K. Realty Holdings LLC, is nearing completion on the model units at Paseo Village Townhomes in the swiftly growing northeast San Diego County city of Ramona, Calif.
Located at Day and La Brea Streets, the nine-building, 31-unit development will soon begin showcasing three newly complete and fully furnished models.
Pathfinder Partners found this a good development opportunity “because of a fundamental shortage of housing, especially entry-level housing, in San Diego County,” the company’s senior managing director Mitch Siegler told MHN. “Also, it is very rare to be able to acquire a site with all development entitlements.”
Paseo Village will feature three-bedroom, 2.5-bath Craftsman-style homes with two-car, direct-access garages. Ranging from 1,577 to 1,632 square feet, they are priced starting in the mid-$400,000s. All offer upscale flooring, as well as kitchens featuring quartz countertops, Shaker cabinets and Samsung appliances. Also included are smart home features, solar options and private patios or balconies.
Incorporated into the community are a barbecue area and green belts. Paseo Village is within steps of retail and dining, and within close proximity of schools, parks, hiking trails, horseback riding, golf courses, wineries, boutiques and galleries.
“We are excited to be an integral part of the Ramona community, which offers all the conveniences of city living coupled with a relaxed country ambiance. [That is] an appealing combination,” said Matt Quinn, vice president of Pathfinder Partners. He added Paseo Village is one of very few new home communities in Ramona.
Pathfinder acquired the 2.5-acre parcel as well as approved architectural plans in late 2016. The development’s general contractor is Crowbar Construction. Its architect is Bruce Steingraber of Ramona-based Progressive Images. Overseeing sales and marketing is Robert Dudek of The Blue Summit Real Estate Group.
An ongoing process
The community’s remaining units will be completed this autumn.
“We have a strong balance sheet and an outstanding track record and win our share of business by moving quickly and being able to close transactions on an all-cash basis,” Siegler said.
“The only types of deals nowadays are challenging deals. Construction costs have escalated and, when combined with rising rates, it’s more difficult to deliver high-quality, entry-level housing at a price people can afford and make a profit. It’s always an ongoing process of value engineering and managing the details.”