Watt, Presidio Break Ground in LA’s San Fernando Valley
- Sep 10, 2018
Watt Communities and Presidio Residential Capital has broken ground on a new gated community in Los Angeles’ West Hills neighborhood, in the San Fernando Valley. Dubbed New Heights, the property will comprise 43 single-family homes. This development marks Watt Communities and Presidio Residential Capital’s fifth joint venture project. The 1.9-acre site was acquired back in May.
Located at 22135 Roscoe Blvd., the lots will range in size from 1,900 to 2,290 square feet at the site. The property is situated within 30 minutes of downtown Los Angeles. Vertical construction of the $25 million community is slated to begin in December 2018.
“With its beautiful rolling hills and tranquil lifestyle, West Hills is one of the hottest sleeper markets in the Los Angeles metro area, and we’re pleased we can relieve the pressure on homebuyers with this beautiful new neighborhood,” said Nam Joe, division president for Watt Communities, in a prepared statement. “We are anticipating high interest in this new community.”
Last summer, a joint venture between Presidio Residential Capital and Family Development won city approval to develop a $451 million master-planned community in Riverside County, Calif. The 660-acre project will include 1,300 townhomes, condominiums, apartments and single-family homes, as well as 284 acres of open space and public parkland and a 2.5-acre commercial center.
Rendering courtesy of Watt Communities