FAIR OAKS, CA—Investment firm Presidio Residential Capital, has partnered with homebuilder Watt Communities on a six-acre, 55-unit community near Sacramento that will offer the first new homes to be built in the Fair Oaks/Carmichael area in two decades.

The $18 million project is expected to begin in April.

“This is a fantastic opportunity because there haven't been any new home communities built in this area for more than 20 years,” said Presidio Residential principal Don Faye. “This location is ideal because it offers the opportunity for people to buy a brand new home in an established neighborhood with beautiful old oak trees and services.”

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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.