Source: The Business Journal
Written by Chuck Harvey
Initial grading is slated to begin in July for the long-planned 6,578-home Gateway Village development in Madera, a project that faced multiple delays after developer Castle & Cooke acquired it in 1990.
New developer Gateway Village Development LLC purchased the 2,062-acre master-planned community site in 2010 and is ready to get rolling. Now in possession of a tentative map for the project, the developer sees growth ahead for the area and surging demand for master-planned communities.
Gateway Village Development had the advantage of taking on a project that already had plans and approvals in place.
The development will be situated at the corner of Highway 41 and Avenue 12 just north of Fresno. Gateway Village will contain residential, commercial and multi-use property and include a high school and four elementary schools.
It will be broken down into five villages with homes on 50-110-foot lots. Build-out of all five villages is expected in about 19 years. The first model homes should be ready in spring of 2016.
Tim Jones, member and manager of Gateway Village Development, said the Gateway Village development will be renamed, but many of the original plans remain the same. Speaking to a group at the University Business Center, Craig School of Business at Fresno State, he said environmental challenges that delayed the project when Castle & Cooke was the developer have been resolved.
“They were resolved in 2010,” Jones said.
Jones said that in taking on the project, Gateway Village Development made it clear it is not a homebuilding company. “We sell blocks (of property),” he said.
The blocks, also known as super pads, include construction of some improvements like internal roads, storm drains, fiber optic lines, storm drains, landscaping and village walls. Utilities are supplied to each of the blocks.
Finished home lots, including curbs and sidewalks, are left to the builder.
Gary Mason, owner of 2M Development Corp. in Clovis, said that large master-planned developments like Gateway Village have become a rarity in the area. “We have not seen any here in Fresno for ages,” he said.
Mason said the village, if successful, would be great for the area’s real estate market and in putting contractors back to work. He said the biggest challenge for a big project like Gateway Village right now is water availability.
Jones pointed out that the village would have multiple water sources including groundwater, water from the San Joaquin River and water from Westside Mutual Water Co. and Madera Irrigation District.
A holding tank will also be constructed to hold a backup water supply for the development.
About four holding tanks will be installed, including one for Village A.
Mike Miller, Central Valley president for Lennar, said Gateway Village has overcome water and sewer issues and the whole master-planned community concept looks pretty good. “I am anxious to see the finished design,” Miller said.
He said the project will be built in stages, so the market should remain good, rather than being overbuilt.
And the location is good, he said. “Moving north across the river seems the natural thing to do,” Miller said.
Village A will be constructed as part of the first phase of a five-village project. “The first village will have 858 lots and include a school site,” Jones said.
What makes the development unique is its planned ties with agriculture. The project site is planted in olives, oranges, pistachios and almonds.
And the new developer would like to maintain an area for production of fruit, nuts and other crops for the residents of Gateway Village. “There will be a plot of land for onsite use,” Jones said.
The initial plan is to provide space for community gardens.
In addition, reminders of the area’s rich agriculture heritage will be incorporated into landscaping and parks.
A report on the project stated that wastewater generated during the first phase would be treated to tertiary standards suitable for land application to a variety of agricultural crops.
Some of the produce would be sold to nearby restaurants, Jones added. He said the developer would like to see a restaurant and food market in the immediate area of the development to serve the residents.
Jones said a subsidy might be provided for someone to open a grocery store near Gateway Village.
The development will also contain pocket parks, but instead of installing traditional play structures like Jungle Jims, they will contain rock structures to climb.
Landscaping for Gateway Village will be designed to use as little water as possible, Jones said, adding, “our architects are working on that.”
The development will feature a trail system, soccer fields and a baseball field.
A master homeowner’s association will set rules for the entire development, Jones said.
He pointed out that although demand for new homes slowed starting in 2008, it is expected to pick up again. Currently the Fresno-Clovis area has demand for about 2,500 new homes annually, Jones said.
Although it is not yet known what homebuilders will construct housing at Gateway Village, many local homebuilders have indicated interest, Jones said.
The added population created by the development will signal a need for road improvements in the immediate area.
Jones said a Highway 41-Avenue 12 interchange will be needed sometime down the road. Also, Highway 41 would need to be widened, he said.
To help cover the cost of the road improvements, a road impact fee of $10,000 a house will be charged to the developer.
URL to original article: http://www.thebusinessjournal.com/news/development/10959-work-on-madera-s-6-578-home-gateway-village-starts-july
For further information on Fresno Real Estate check: http://www.londonproperties.com
Friday, February 28, 2014
Thursday, February 27, 2014
Settlement gives 2,270-home Friant Ranch green light
Source: The Business Journal
Written by Gabriel Dillard
A legal settlement has helped clear the way for Friant Ranch, an "active senior" master-planned community that would include up to 2,270 homes near Millerton Lake. Friant Ranch and the San Joaquin River Parkway & Conservation Trust announced the settlement today that resolves an environmental challenge over Fresno County's February 2011 approval of the project. The City of Fresno and the Sierra Club also filed challenges that were thrown out by a judge at the end of 2012, said Dennis Bacopulos, Friant Ranch operating manager. Bacopulos added that the judge found valid concerns lodged by the Trust regarding environmental impacts to the area near Lost Lake Park. Friant Ranch and the trust have been in discussions for the last year to resolve those impacts, capping five years of environmental analysis. The project was first proposed in 2003. The solution: a one-time fee of about $500 for each home that will be built at Friant Ranch. The fee is expected to generate more than $1.1 million for the park fund to be used for improvements and maintenance at Lost Lake Park and the San Joaquin River Parkway. "It is our intention that this settlement agreement will provide a model for local governments, developers and communities to work together to ensure responsible stewardship of our public parks," said Dave Koehler, the trust's executive director, in a statement. The 480-acre project — southwest of Millerton Lake bounded to the west by Friant Road and the east by the Friant-Kern Canal — will include a 16-acre recreation and fitness center, 13 miles of walking and biking trails and an 18-acre commercial/retail center. It will be geared toward "Baby Boomer active adults" aged 55-plus. "This will be a first-of-its-kind project for Fresno County that we believe will appeal to aging Baby Boomers and help retain their wisdom and spending," Bacopulos said. The City of Fresno and Sierra Club both appealed the judge's decision on their environmental challenges. An appeals court has yet to rule on those appeals. But Bacopulos said infrastructure planning work continues. He said a groundbreaking could come as early as next year. The project would be built out over 10 years. In that 10-year span, Friant Ranch construction is expected to generate $918 million in economic output for the Fresno County economy. Construction is expected to generate employment for about 660 workers annually. At full build-out, annual county revenue from various taxes, licenses and permits is expected to exceed the costs of services to be provided by the county by $2.6 to $2.9 million. The Bigelow/Silkwood ranching family has owned the Friant Ranch property for more than 90 years.
URL to original article: http://www.thebusinessjournal.com/news/development/10930-settlement-gives-2-270-home-friant-ranch-green-light
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by Gabriel Dillard
A legal settlement has helped clear the way for Friant Ranch, an "active senior" master-planned community that would include up to 2,270 homes near Millerton Lake. Friant Ranch and the San Joaquin River Parkway & Conservation Trust announced the settlement today that resolves an environmental challenge over Fresno County's February 2011 approval of the project. The City of Fresno and the Sierra Club also filed challenges that were thrown out by a judge at the end of 2012, said Dennis Bacopulos, Friant Ranch operating manager. Bacopulos added that the judge found valid concerns lodged by the Trust regarding environmental impacts to the area near Lost Lake Park. Friant Ranch and the trust have been in discussions for the last year to resolve those impacts, capping five years of environmental analysis. The project was first proposed in 2003. The solution: a one-time fee of about $500 for each home that will be built at Friant Ranch. The fee is expected to generate more than $1.1 million for the park fund to be used for improvements and maintenance at Lost Lake Park and the San Joaquin River Parkway. "It is our intention that this settlement agreement will provide a model for local governments, developers and communities to work together to ensure responsible stewardship of our public parks," said Dave Koehler, the trust's executive director, in a statement. The 480-acre project — southwest of Millerton Lake bounded to the west by Friant Road and the east by the Friant-Kern Canal — will include a 16-acre recreation and fitness center, 13 miles of walking and biking trails and an 18-acre commercial/retail center. It will be geared toward "Baby Boomer active adults" aged 55-plus. "This will be a first-of-its-kind project for Fresno County that we believe will appeal to aging Baby Boomers and help retain their wisdom and spending," Bacopulos said. The City of Fresno and Sierra Club both appealed the judge's decision on their environmental challenges. An appeals court has yet to rule on those appeals. But Bacopulos said infrastructure planning work continues. He said a groundbreaking could come as early as next year. The project would be built out over 10 years. In that 10-year span, Friant Ranch construction is expected to generate $918 million in economic output for the Fresno County economy. Construction is expected to generate employment for about 660 workers annually. At full build-out, annual county revenue from various taxes, licenses and permits is expected to exceed the costs of services to be provided by the county by $2.6 to $2.9 million. The Bigelow/Silkwood ranching family has owned the Friant Ranch property for more than 90 years.
URL to original article: http://www.thebusinessjournal.com/news/development/10930-settlement-gives-2-270-home-friant-ranch-green-light
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, February 20, 2014
Local homes sales vary in January
Source: The Business Journal
Home sales in Fresno and Tulare counties took a nose dive in January, but it was quite a different story in Madera and Kings counties. According to a new report from the California Association of Realtors, home sales dropped 27.1 percent in Fresno County during the month and 25.6 percent year-over-year. At the same time, home prices climbed. At $184,120, Fresno County's median home price fell 3.3 percent from $190,350 in December but rose 21.6 percent from $151,450 in January 2013. Sales in Tulare County were even more dismal, falling 30 percent in the month and 35.8 percent compared to the year before. The county's median home price inched up 1.2 percent to $162,860 over December's $160,910. That's also 18.7-percent higher than $137,240 last year. Madera County saw a 30-percent increase in home sales in the month, despite of a 16.1-percent drop from last January. The county's median home price was unchanged in the month at $160,000, but still up 62.7 percent over last year's price of $98,300. Kings County was also a bright spot in home sales, which picked up 14.8 percent in the month and only fell 3.1 percent compared to last January. Home prices there were steady as well. At $160,000 in January, the county's median home price was up only 3.7 percent from $154,280 in December and 4.4 percent from $153,330 last year. Even as home sales in Fresno and Tulare counties plunged, homebuilders were hard at work making sure inventory went in the opposite direction. Fresno County's unsold inventory index, or the number of months to deplete the supply of homes at the current sales rate, rose from 4 months in December and 4.3 months last year to 6 months in January. Tulare County's index increased to 6.9 months compared to 4.3 months in December and 3.4 months in January 2013. Madera County saw its home supply drop from 4.6 months in December to 3.6 months in January, still up from just 2.6 months a year ago. In Kings County, the inventory index slipped to 4.1 months in January, down from 4.6 months in December but safer than the 3.5-month supply last year. Statewide, home sales totaled around 363,640 units in January, up just 0.3 percent from 362,430 in December but down 13.8 percent from 421,780 a year ago. "The underlying fundamentals for housing demand exists, however, constrained inventory is holding back a strong recovery as affordability becomes an issue for current homeowners who are reluctant to move due to less attractive mortgage rates and more restrictive lending standards," said C.A.R. President Kevin Brown, in a release.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10821-local-homes-sales-vary-in-january
For further information on Fresno Real Estate check: http://www.londonproperties.com
Home sales in Fresno and Tulare counties took a nose dive in January, but it was quite a different story in Madera and Kings counties. According to a new report from the California Association of Realtors, home sales dropped 27.1 percent in Fresno County during the month and 25.6 percent year-over-year. At the same time, home prices climbed. At $184,120, Fresno County's median home price fell 3.3 percent from $190,350 in December but rose 21.6 percent from $151,450 in January 2013. Sales in Tulare County were even more dismal, falling 30 percent in the month and 35.8 percent compared to the year before. The county's median home price inched up 1.2 percent to $162,860 over December's $160,910. That's also 18.7-percent higher than $137,240 last year. Madera County saw a 30-percent increase in home sales in the month, despite of a 16.1-percent drop from last January. The county's median home price was unchanged in the month at $160,000, but still up 62.7 percent over last year's price of $98,300. Kings County was also a bright spot in home sales, which picked up 14.8 percent in the month and only fell 3.1 percent compared to last January. Home prices there were steady as well. At $160,000 in January, the county's median home price was up only 3.7 percent from $154,280 in December and 4.4 percent from $153,330 last year. Even as home sales in Fresno and Tulare counties plunged, homebuilders were hard at work making sure inventory went in the opposite direction. Fresno County's unsold inventory index, or the number of months to deplete the supply of homes at the current sales rate, rose from 4 months in December and 4.3 months last year to 6 months in January. Tulare County's index increased to 6.9 months compared to 4.3 months in December and 3.4 months in January 2013. Madera County saw its home supply drop from 4.6 months in December to 3.6 months in January, still up from just 2.6 months a year ago. In Kings County, the inventory index slipped to 4.1 months in January, down from 4.6 months in December but safer than the 3.5-month supply last year. Statewide, home sales totaled around 363,640 units in January, up just 0.3 percent from 362,430 in December but down 13.8 percent from 421,780 a year ago. "The underlying fundamentals for housing demand exists, however, constrained inventory is holding back a strong recovery as affordability becomes an issue for current homeowners who are reluctant to move due to less attractive mortgage rates and more restrictive lending standards," said C.A.R. President Kevin Brown, in a release.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10821-local-homes-sales-vary-in-january
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, February 13, 2014
Hey Romeo, thank these guys for bringing the roses
Source: The Business Journal
Written by SCOTT MAYEROWITZ, AP Airlines Writer
(AP) — If Cupid were to have a home, it would be Miami International Airport. Before millions of Americans can present their loved ones with a bouquet of Valentine's Day roses, most of the flowers are flown from Colombia and Ecuador to Miami, many in the bellies of passenger planes. There, cargo handlers and customs agents — call them Cupid's helpers — ensure that the deep red petals stay perfect until they reach their final destination. In the weeks leading up to Valentine's Day, about 738 million flowers — 85 percent of imported flowers — come through the Florida airport. Los Angeles is a distant second, with 44 million. The roses, carnations, hydrangeas, sunflowers and other varieties are rushed by forklift from planes to chilled warehouses and then onto refrigerated trucks or other planes and eventually delivered to florists, gas stations and grocery stores across the country. "We always joke that a passenger gets themselves to the next flight while a bit of cargo does not," says Jim Butler, president of cargo operations at American Airlines. The biggest problem this Valentine's Day might be the final few miles of the journey. A massive snowstorm that blanketed the east coast has made some suburban roads difficult for local delivery drivers. For U.S. passenger airlines such as American, cargo is a small, but increasingly important part of their business. New jets are built with more freight space and the airlines are adding new non-stop international routes popular with shippers. Most airline passengers focus on what's visible to them, like the amount of legroom and the space in the overhead bins. Few think about what's beneath the cabin floor. There's fresh Alaskan salmon, this season's latest luxury clothing from Milan and plenty of Peruvian asparagus heading to London. Then there are the more unusual items like human corneas, the occasional live cheetah or lion and large shipments of gold and diamonds. And there are the flowers. Valentine's Day is a big day for flowers, topped only by Mother's Day, and cargo teams work extra hours ahead of both to ensure on-time deliveries. "There's a spark in the air while loading these," says Andy Kirschner, director of cargo sales for Delta Air Lines. "You know this is going to loved ones." Worldwide, airlines and air shippers carried about 52 million tons of freight representing $6 trillion worth of goods last year, according to the International Air Transport Association, the airlines' trade group. That was up 1.4 percent from the prior year. The amount of air cargo is expected to climb 17 percent in the next five years. Shipping by air costs about 10 times more than by sea, says David G. Ross, a transportation analyst at Stifel. So, plane rides are reserved for trendy high-end fashion items, the hottest electronics or perishable foods and flowers. "If it's the new product on the block and everybody wants it, then you can ship it by air," Ross says. Most non-perishables, such as T-shirts, jeans and even mass-produced flat-screen TVs, travel by ship. "If you have a low price point on it, you don't have room for expensive transportation," says Ross. That's been the philosophy of many corporations coming out of the recession — and has made for rough going for the air cargo business. Low interest rates have also factored into companies choosing to take a few extra weeks to ship products to the marketplace by sea. As a result, air cargo rates have been depressed. Air shippers worldwide took in $59 billion in revenue last year, down 12 percent from two years ago. For the biggest U.S. airlines — American Airlines, Delta and United Airlines — cargo accounted for just 2.3 percent of their overall revenue last year, down from 2.5 percent in 2012 and 2.8 percent in 2011. United's cargo revenue fell 13.4 percent last year, while Delta's fell 5.4 percent. American's remained virtually flat, thanks in part to its dominance on South American routes. It's the largest carrier in Miami. The airlines don't break out cargo costs but the side business is said to be profitable. They already have the jets and are paying the pilots, and they fill planes with enough passengers to cover their expenses. Plus, there's plenty of space next to the passenger luggage in a wide-body jet like the Boeing 777. "It's incremental revenue. You're already paying for the airplane to go," says Brandon Fried, executive director of the Airforwarders Association, the trade group for shippers. Plus, "freight doesn't complain like passengers do at times." Delta considered replacing the 777s it uses between Los Angles and Sydney with 747s, which seat 107 extra passengers. But that would have reduced the capacity for the strawberries, asparagus, green onions, lettuce and other perishable items it ships from California to Australia. The cargo business isn't just about the space in a plane's belly. There needs to also be precision handling on the ground, especially with a product that can spoil. With flowers, as soon as they're cut a clock starts ticking. And nobody wants to give wilted roses on Valentine's Day. Heat is the enemy. When a plane touches down in Miami, the flowers are rushed to a nearby warehouse where a parade of forklifts carry them into giant coolers — really rooms — set at 35 degrees. Every time the giant cooler doors open up, fog rolls out as the frigid air hits the Florida humidity. Inside, big vacuums suck the hot air out of flower boxes and bring in the surrounding cold air. In one hour, the core temperature of flowers, vegetables or other perishables drops 46 degrees. "It's like it cryogenically extends the life," says Nathaniel R. Miller, a supervisor with Perishable Handling Specialists, which operates American's Miami coolers. Before the flowers can be sent to stores across the country, U.S. Customs and Border Protection must sign off. Agents check tax documentation, ensure that drugs aren't being smuggled and inspect petals and stems for pests like moths, leaf-miner flies and spider mites, which can ruin crops in American fields. The bugs — some as small as a period — can't be detected by X-ray machines. So a team of agents travels from warehouse to warehouse, looking at a sample of flowers. Bouquets are turned upside down, hit on the side. Thump, thump, thump. Dirt, leaves and other debris fall onto tables covered in white paper. Magnifying loops are used to inspect the specks. Any bugs discovered are dropped into test tubes and sent off to a lab. The job has hazards: roses come with plenty of thorns and some officers wear masks to protect against the pollen. Their uniforms include hats and gloves. "It's like working in a meat locker," says Michael DiBlasi, a Customs and Border Protection agriculture specialist. "We love our job. You have to, to work in a cooler."
URL to original article: http://thebusinessjournal.com/news/national/10755-hey-romeo-thank-these-guys-for-bringing-the-roses
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by SCOTT MAYEROWITZ, AP Airlines Writer
(AP) — If Cupid were to have a home, it would be Miami International Airport. Before millions of Americans can present their loved ones with a bouquet of Valentine's Day roses, most of the flowers are flown from Colombia and Ecuador to Miami, many in the bellies of passenger planes. There, cargo handlers and customs agents — call them Cupid's helpers — ensure that the deep red petals stay perfect until they reach their final destination. In the weeks leading up to Valentine's Day, about 738 million flowers — 85 percent of imported flowers — come through the Florida airport. Los Angeles is a distant second, with 44 million. The roses, carnations, hydrangeas, sunflowers and other varieties are rushed by forklift from planes to chilled warehouses and then onto refrigerated trucks or other planes and eventually delivered to florists, gas stations and grocery stores across the country. "We always joke that a passenger gets themselves to the next flight while a bit of cargo does not," says Jim Butler, president of cargo operations at American Airlines. The biggest problem this Valentine's Day might be the final few miles of the journey. A massive snowstorm that blanketed the east coast has made some suburban roads difficult for local delivery drivers. For U.S. passenger airlines such as American, cargo is a small, but increasingly important part of their business. New jets are built with more freight space and the airlines are adding new non-stop international routes popular with shippers. Most airline passengers focus on what's visible to them, like the amount of legroom and the space in the overhead bins. Few think about what's beneath the cabin floor. There's fresh Alaskan salmon, this season's latest luxury clothing from Milan and plenty of Peruvian asparagus heading to London. Then there are the more unusual items like human corneas, the occasional live cheetah or lion and large shipments of gold and diamonds. And there are the flowers. Valentine's Day is a big day for flowers, topped only by Mother's Day, and cargo teams work extra hours ahead of both to ensure on-time deliveries. "There's a spark in the air while loading these," says Andy Kirschner, director of cargo sales for Delta Air Lines. "You know this is going to loved ones." Worldwide, airlines and air shippers carried about 52 million tons of freight representing $6 trillion worth of goods last year, according to the International Air Transport Association, the airlines' trade group. That was up 1.4 percent from the prior year. The amount of air cargo is expected to climb 17 percent in the next five years. Shipping by air costs about 10 times more than by sea, says David G. Ross, a transportation analyst at Stifel. So, plane rides are reserved for trendy high-end fashion items, the hottest electronics or perishable foods and flowers. "If it's the new product on the block and everybody wants it, then you can ship it by air," Ross says. Most non-perishables, such as T-shirts, jeans and even mass-produced flat-screen TVs, travel by ship. "If you have a low price point on it, you don't have room for expensive transportation," says Ross. That's been the philosophy of many corporations coming out of the recession — and has made for rough going for the air cargo business. Low interest rates have also factored into companies choosing to take a few extra weeks to ship products to the marketplace by sea. As a result, air cargo rates have been depressed. Air shippers worldwide took in $59 billion in revenue last year, down 12 percent from two years ago. For the biggest U.S. airlines — American Airlines, Delta and United Airlines — cargo accounted for just 2.3 percent of their overall revenue last year, down from 2.5 percent in 2012 and 2.8 percent in 2011. United's cargo revenue fell 13.4 percent last year, while Delta's fell 5.4 percent. American's remained virtually flat, thanks in part to its dominance on South American routes. It's the largest carrier in Miami. The airlines don't break out cargo costs but the side business is said to be profitable. They already have the jets and are paying the pilots, and they fill planes with enough passengers to cover their expenses. Plus, there's plenty of space next to the passenger luggage in a wide-body jet like the Boeing 777. "It's incremental revenue. You're already paying for the airplane to go," says Brandon Fried, executive director of the Airforwarders Association, the trade group for shippers. Plus, "freight doesn't complain like passengers do at times." Delta considered replacing the 777s it uses between Los Angles and Sydney with 747s, which seat 107 extra passengers. But that would have reduced the capacity for the strawberries, asparagus, green onions, lettuce and other perishable items it ships from California to Australia. The cargo business isn't just about the space in a plane's belly. There needs to also be precision handling on the ground, especially with a product that can spoil. With flowers, as soon as they're cut a clock starts ticking. And nobody wants to give wilted roses on Valentine's Day. Heat is the enemy. When a plane touches down in Miami, the flowers are rushed to a nearby warehouse where a parade of forklifts carry them into giant coolers — really rooms — set at 35 degrees. Every time the giant cooler doors open up, fog rolls out as the frigid air hits the Florida humidity. Inside, big vacuums suck the hot air out of flower boxes and bring in the surrounding cold air. In one hour, the core temperature of flowers, vegetables or other perishables drops 46 degrees. "It's like it cryogenically extends the life," says Nathaniel R. Miller, a supervisor with Perishable Handling Specialists, which operates American's Miami coolers. Before the flowers can be sent to stores across the country, U.S. Customs and Border Protection must sign off. Agents check tax documentation, ensure that drugs aren't being smuggled and inspect petals and stems for pests like moths, leaf-miner flies and spider mites, which can ruin crops in American fields. The bugs — some as small as a period — can't be detected by X-ray machines. So a team of agents travels from warehouse to warehouse, looking at a sample of flowers. Bouquets are turned upside down, hit on the side. Thump, thump, thump. Dirt, leaves and other debris fall onto tables covered in white paper. Magnifying loops are used to inspect the specks. Any bugs discovered are dropped into test tubes and sent off to a lab. The job has hazards: roses come with plenty of thorns and some officers wear masks to protect against the pollen. Their uniforms include hats and gloves. "It's like working in a meat locker," says Michael DiBlasi, a Customs and Border Protection agriculture specialist. "We love our job. You have to, to work in a cooler."
URL to original article: http://thebusinessjournal.com/news/national/10755-hey-romeo-thank-these-guys-for-bringing-the-roses
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, February 12, 2014
Home affordability dwindles in Q4
Source: The Business Journal
The dream of owning a house crept further out of reach for many homebuyers in the San Joaquin Valley during the fourth quarter of last year. According to new figures by the California Association of Realtors, the percentage of homebuyers who could afford a median-priced home in Fresno County dropped to 55 percent in the latest quarter compared to 56 percent in the previous quarter and 70 percent in the fourth quarter of 2013. On average, homebuyers in the county needed to make a minimum annual income of $38,910 to purchase a single-family home priced at $188,140 with monthly payments of $970 on a 30-year fixed loan. The affordability index in Tulare County dropped from 61 percent in the third quarter of last year and 71 percent a year ago to 60 percent in the fourth quarter of 2013. That meant homebuyers needed an income of at least $33,340 to afford a home priced at $161,200 on monthly payments of $830. In Madera County, the amount of those who could afford to buy a home actually picked up to 67 percent in the fourth quarter compared to 62 percent in the previous quarter, but fell from 74 percent a year ago. That meant a median priced home of $157,140 was achievable with a minimum annual income of $32,500 on monthly payments of $810. The affordability index in Kings County was unchanged in the quarter at 62 percent but dropped from 76 percent in the fourth quarter of 2012. Homebuyers in the county needed a minimum income of $35,340 to afford a median price home of $170,870 on monthly payments of $880. Housing affordability throughout the state stood at 32 percent in the fourth quarter of last year, the same as in the third quarter but down from 48 percent in the fourth quarter of 2012. On average, California homebuyers needed to make at least $89,240 each year to afford a home priced at $431,510 on monthly payments of $2,230. For counties that submitted data, Madera and Kings counties had the highest affordability index, while San Francisco and San Mateo counties had the lowest index at 16 percent. Nearly every county experienced a double-digit decline in affordability when compared to the year before.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10737-home-affordability-dwindles-in-q4
For further information on Fresno Real Estate check: http://www.londonproperties.com
The dream of owning a house crept further out of reach for many homebuyers in the San Joaquin Valley during the fourth quarter of last year. According to new figures by the California Association of Realtors, the percentage of homebuyers who could afford a median-priced home in Fresno County dropped to 55 percent in the latest quarter compared to 56 percent in the previous quarter and 70 percent in the fourth quarter of 2013. On average, homebuyers in the county needed to make a minimum annual income of $38,910 to purchase a single-family home priced at $188,140 with monthly payments of $970 on a 30-year fixed loan. The affordability index in Tulare County dropped from 61 percent in the third quarter of last year and 71 percent a year ago to 60 percent in the fourth quarter of 2013. That meant homebuyers needed an income of at least $33,340 to afford a home priced at $161,200 on monthly payments of $830. In Madera County, the amount of those who could afford to buy a home actually picked up to 67 percent in the fourth quarter compared to 62 percent in the previous quarter, but fell from 74 percent a year ago. That meant a median priced home of $157,140 was achievable with a minimum annual income of $32,500 on monthly payments of $810. The affordability index in Kings County was unchanged in the quarter at 62 percent but dropped from 76 percent in the fourth quarter of 2012. Homebuyers in the county needed a minimum income of $35,340 to afford a median price home of $170,870 on monthly payments of $880. Housing affordability throughout the state stood at 32 percent in the fourth quarter of last year, the same as in the third quarter but down from 48 percent in the fourth quarter of 2012. On average, California homebuyers needed to make at least $89,240 each year to afford a home priced at $431,510 on monthly payments of $2,230. For counties that submitted data, Madera and Kings counties had the highest affordability index, while San Francisco and San Mateo counties had the lowest index at 16 percent. Nearly every county experienced a double-digit decline in affordability when compared to the year before.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10737-home-affordability-dwindles-in-q4
For further information on Fresno Real Estate check: http://www.londonproperties.com
Madera Co. industrial vacancies hard to find
Source: The Business Journal
Industrial vacancies fell below 1 percent for the first time since the recession began, leaving very little building space for manufacturers to fill. According to a recent report by TK Consulting, the county's vacancy rate dropped to 0.55 percent in the fourth quarter compared to 1.22 percent in the previous quarter and 3.86 percent a year ago. That means of the slightly more than 7 million square feet of building space for industrial purposes in Madera County, there is only 38,664 square feet still available to manufacturers. The inventory includes multi-tenant and single-tenant buildings with at least 5,000 square feet. The report also showed monthly rental rates for industrial purposes averaging 38 cents per square foot during the latest quarter with a high of 45 cents and a low of 30 cents. Asking rents have trended upward, increasing 4 cents per square foot over the last 12 months. One notable transaction mentioned in the report was the lease of a 18,000 square-foot building located in the Brickyard Industrial Park in Madera. Having been vacant for several years, the building is currently under renovation to be occupied by Granite Mountain Stone Design. Another 7,520 square-foot building is also being offered for sale. Demand for almonds has prompted much of the industrial space filled in 2013, the report mentions, as processors expand their operations to handle newly planted trees in the county. Other available properties for sale or lease can be found on the Madera County Economic Development Commission webs tie at www.maderaindustry.org. The organization, which is tasked with recruiting companies to the county and helping existing ones expand, is currently working with several developers on a plan to increase the amount of building space by preparing large properties with shovel-ready infrastructure like streets, lights and water connections to entice manufacturers.
URL to original article: http://www.thebusinessjournal.com/news/manufacturing-and-distribution/10669-madera-co-industrial-vacancies-hard-to-find
For further information on Fresno Real Estate check: http://www.londonproperties.com
Industrial vacancies fell below 1 percent for the first time since the recession began, leaving very little building space for manufacturers to fill. According to a recent report by TK Consulting, the county's vacancy rate dropped to 0.55 percent in the fourth quarter compared to 1.22 percent in the previous quarter and 3.86 percent a year ago. That means of the slightly more than 7 million square feet of building space for industrial purposes in Madera County, there is only 38,664 square feet still available to manufacturers. The inventory includes multi-tenant and single-tenant buildings with at least 5,000 square feet. The report also showed monthly rental rates for industrial purposes averaging 38 cents per square foot during the latest quarter with a high of 45 cents and a low of 30 cents. Asking rents have trended upward, increasing 4 cents per square foot over the last 12 months. One notable transaction mentioned in the report was the lease of a 18,000 square-foot building located in the Brickyard Industrial Park in Madera. Having been vacant for several years, the building is currently under renovation to be occupied by Granite Mountain Stone Design. Another 7,520 square-foot building is also being offered for sale. Demand for almonds has prompted much of the industrial space filled in 2013, the report mentions, as processors expand their operations to handle newly planted trees in the county. Other available properties for sale or lease can be found on the Madera County Economic Development Commission webs tie at www.maderaindustry.org. The organization, which is tasked with recruiting companies to the county and helping existing ones expand, is currently working with several developers on a plan to increase the amount of building space by preparing large properties with shovel-ready infrastructure like streets, lights and water connections to entice manufacturers.
URL to original article: http://www.thebusinessjournal.com/news/manufacturing-and-distribution/10669-madera-co-industrial-vacancies-hard-to-find
For further information on Fresno Real Estate check: http://www.londonproperties.com
Monday, February 3, 2014
As market hits par, developer drives Dinuba golf homes
Source: The Business Journal
Written by Chuck Harvey
Plans for a residential component of Dinuba’s Ridge Creek Golf Club have been on hold because of recession and slow movement in the new home market. However, housing demand has picked up and plans have resumed for a $107-million custom and semi-custom housing development around the scenic course. In October, the Dinuba City Council approved the site map for the 172-home project to be developed by Ridge Creek Partners. The builder is Ted Intravia of TTI Development in Los Banos. “We are moving ahead and have a tentative map,” said Mark Davis, managing partner of Ridge Creek Partners. Ridge Creek Partners is purchasing the Ridge Creek property from the City of Dinuba. Davis said Ridge Creek Partners and the city have agreed in principle to a sales agreement for a 58-acre residential segment of the golf club property. “We’re working on it right now,” said Beth Nunes, Dinuba city manager. Nunes said the city would receive $15,100 an acre, or about what the city paid for it. She said the city was not out to profit on the land, but would benefit from brining upper-end housing to Dinuba — something a recent marketing study found in demand in the Tulare County town. Nunes said the project would not only bring upper-end housing to the city, but also encourage other developers to build similar homes nearby. Davis said the project would be back before the city council in late February. At that time, Ridge Creek Partners will ask to begin the infrastructure design process. Once that is done, design of models and floor plans can start, Davis said. Homes will be designed in an American Craftsman style to match the style of the clubhouse. Davis said work could begin on infrastructure, including streets, sewer and water lines in mid-April. He said construction could start in October of this year. Although the project is considered small in scale, it will provide the city with both development fee and property tax revenue. The city will receive $3 million in development fee money, Davis said. And it will give homebuyers more choices. “The project is unique in that it provides the upscale housing that Dinuba doesn’t have,” Davis said. The development will feature two communities: The Golf Estates at Ridge Creek, a gated community with 55 custom homes on lots ranging from 10,000 square feet to 26,000 square feet, and The Golf Villas at Ridge Creek where 117 semi-custom homes from 1,780 square feet to 3,400 square feet will be built. Buyers can chose from eight floor plans designed by Stan Canby of Teter AE in Visalia. Semi-custom home prices are estimated from the high $200,000s to the mid $400,000s. Custom homes will be priced by the square foot. Some, situated on larger lots, will be priced at about $500,000. A design studio will be provided on-site and custom homebuyers will be able to use the same architect as the semi-custom homebuyers if they choose. Construction of the homes will be done in two phases. Along with new housing, a boutique hotel and recreation center are proposed for the location. The hotel and recreation center would be completed in about three years, Davis said. The homes will be situated on the west and south sides of the city-owned golf course, which opened in 2008. John Fought of Scottsdale, Ariz., designed the par 72 course. Residents Ridge Creek will receive a free family membership to the club for a year. Ridge Creek is considered one of the top new courses in California. It features a large driving range with a championship tee length of 7,495 years. The course was built on farmland formerly used for growing fruit trees and grapes. Each hole is named for a fruit variety. The course is located near Dinuba’s wastewater treatment plant, which supplies the irrigation water. Additional information about the project is available at a newly created website, www.homesatridgecreek.com.
URL to original article: http://www.thebusinessjournal.com/news/development/10611-as-market-hits-par-developer-drives-dinuba-golf-homes
For further information on Fresno Real Estate check http://www.londonproperties.com
Written by Chuck Harvey
Plans for a residential component of Dinuba’s Ridge Creek Golf Club have been on hold because of recession and slow movement in the new home market. However, housing demand has picked up and plans have resumed for a $107-million custom and semi-custom housing development around the scenic course. In October, the Dinuba City Council approved the site map for the 172-home project to be developed by Ridge Creek Partners. The builder is Ted Intravia of TTI Development in Los Banos. “We are moving ahead and have a tentative map,” said Mark Davis, managing partner of Ridge Creek Partners. Ridge Creek Partners is purchasing the Ridge Creek property from the City of Dinuba. Davis said Ridge Creek Partners and the city have agreed in principle to a sales agreement for a 58-acre residential segment of the golf club property. “We’re working on it right now,” said Beth Nunes, Dinuba city manager. Nunes said the city would receive $15,100 an acre, or about what the city paid for it. She said the city was not out to profit on the land, but would benefit from brining upper-end housing to Dinuba — something a recent marketing study found in demand in the Tulare County town. Nunes said the project would not only bring upper-end housing to the city, but also encourage other developers to build similar homes nearby. Davis said the project would be back before the city council in late February. At that time, Ridge Creek Partners will ask to begin the infrastructure design process. Once that is done, design of models and floor plans can start, Davis said. Homes will be designed in an American Craftsman style to match the style of the clubhouse. Davis said work could begin on infrastructure, including streets, sewer and water lines in mid-April. He said construction could start in October of this year. Although the project is considered small in scale, it will provide the city with both development fee and property tax revenue. The city will receive $3 million in development fee money, Davis said. And it will give homebuyers more choices. “The project is unique in that it provides the upscale housing that Dinuba doesn’t have,” Davis said. The development will feature two communities: The Golf Estates at Ridge Creek, a gated community with 55 custom homes on lots ranging from 10,000 square feet to 26,000 square feet, and The Golf Villas at Ridge Creek where 117 semi-custom homes from 1,780 square feet to 3,400 square feet will be built. Buyers can chose from eight floor plans designed by Stan Canby of Teter AE in Visalia. Semi-custom home prices are estimated from the high $200,000s to the mid $400,000s. Custom homes will be priced by the square foot. Some, situated on larger lots, will be priced at about $500,000. A design studio will be provided on-site and custom homebuyers will be able to use the same architect as the semi-custom homebuyers if they choose. Construction of the homes will be done in two phases. Along with new housing, a boutique hotel and recreation center are proposed for the location. The hotel and recreation center would be completed in about three years, Davis said. The homes will be situated on the west and south sides of the city-owned golf course, which opened in 2008. John Fought of Scottsdale, Ariz., designed the par 72 course. Residents Ridge Creek will receive a free family membership to the club for a year. Ridge Creek is considered one of the top new courses in California. It features a large driving range with a championship tee length of 7,495 years. The course was built on farmland formerly used for growing fruit trees and grapes. Each hole is named for a fruit variety. The course is located near Dinuba’s wastewater treatment plant, which supplies the irrigation water. Additional information about the project is available at a newly created website, www.homesatridgecreek.com.
URL to original article: http://www.thebusinessjournal.com/news/development/10611-as-market-hits-par-developer-drives-dinuba-golf-homes
For further information on Fresno Real Estate check http://www.londonproperties.com
Subscribe to:
Posts (Atom)
