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 

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