67-home Smith Village project in Santa Rosa breaks groundDecember 29, 2016 11:35 pm
Lafferty Communities and Presidio Residential Capital recently broke ground on Smith Village, a 67-unit community in southwest Santa Rosa.
The project is on 8.97 acres of vacant land Sebastopol Road and Justin Drive. It is expected to have a retail value of more than $33 million, after all the units are sold.
Smith Village will offer 51 detached homes on lots averaging 4,500 square feet and 16 attached single-family homes on lots averaging 2,236 square feet. The community, which is expected to be open for sale in spring, is being built on vacant land.
The neighborhood will be served by the Santa Rosa City and Wright School districts. In keeping with Santa Rosa low-water-use rules, the homes will have ultralow-water toilets, low-flow showerheads and faucet aerators, and water-efficient landscapes.
San Ramon-based Lafferty and San Diego-based Presidio have partnered to build two other Bay Area communities: Brioso, an 18-unit community on 7.19 acres in Napa, and Amber Field, an environmentally friendly 36-unit community located on 9.84 acres in Brentwood. Lafferty also is developing the Talus Reserve residential project in Lucas Valley northwest of San Rafael.
The developers calculated the economic impact of Smith Village, based on the National Association of Home Builders’ formula for single-family housing in typical metro areas. Adding 67 single-family homes would generate $19.2 million in local income, $2.4 million in taxes and other revenue for local governments, and 264 local jobs.
See original article at The North Bay Business Journal.