INDIO, CA-Presidio Residential Capital has partnered with two other firms to acquire Fiesta de Vida, a 656-acre master-planned community approved for 1,459 new homes on the edge of Palm Desert.
The project will focus on removing the golf course component and creating an environment conducive to active, healthy lifestyles. The community will include extensive trails, community gardens and an active park system.
"As economic conditions improve in the Coachella Valley, with job growth and resale home values continuing to increase, the housing market is not keeping up with demand," said Don Faye, principal of Presidio. "Fiesta de Vida will provide an affordable alternative to the nearby Palm Desert area, serving the needs of downsizers, retirees, families and second-home buyers."
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
