9 replies to this topic

[caligirlz]

Per the Sac Bee today

The housing downturn made it seem as though Folsom city officials would have to wait a long while before seeing their vision for new residences south of Highway 50 come to fruition.

Au contraire. David Miller, the city's community development director, said Wednesday that there could be houses on the property as early as 2014.

His pronouncement came after El Dorado Hills' Westland Capital Partners announced it had purchased the 960-acre Mangini Ranch property from a partnership controlled by developer Angelo K. Tsakopoulos.

Of the acquisition, Miller said, "It shows that the economy has turned to the point that even with the cost of new development, the demand is high enough for them to close on the property and move forward."

Westland Capital was born in February 2011 when real estate veterans John Hagenbuch, Bill Bunce, John Telischak and Rob Aragon got together to buy land in select Western markets. The partners bought 110 acres in Roseville earlier this year.

Westland Capital is entitled to build nearly 4,000 residential units on the Mangini Ranch, a part of the vast acreage annexed by Folsom earlier this year.

[ducky]

This was actually published on the 18th.

The Capital Southeast Connector JPA (something like a six-lane expressway) connecting from El Dorado Hills to Elk Grove was approved by the council back in April so I guess the building won't be far behind. Part of the same Measure A that paid for Folsom Lake Crossing, I think.

Before I'd buy anything there, I'd take a close look at what will be on the property tax bill. I know someone that moved into one of the new communities in Rancho Cordova, and there are a lot of extra charges for police, landscaping, Mello-Roos, another type of landscaping, park, police, drainage & soil studies.

[Stop South of 50]

Per the Sac Bee today

The housing downturn made it seem as though Folsom city officials would have to wait a long while before seeing their vision for new residences south of Highway 50 come to fruition.

Au contraire. David Miller, the city's community development director, said Wednesday that there could be houses on the property as early as 2014.

His pronouncement came after El Dorado Hills' Westland Capital Partners announced it had purchased the 960-acre Mangini Ranch property from a partnership controlled by developer Angelo K. Tsakopoulos.

Of the acquisition, Miller said, "It shows that the economy has turned to the point that even with the cost of new development, the demand is high enough for them to close on the property and move forward."

Westland Capital was born in February 2011 when real estate veterans John Hagenbuch, Bill Bunce, John Telischak and Rob Aragon got together to buy land in select Western markets. The partners bought 110 acres in Roseville earlier this year.

Westland Capital is entitled to build nearly 4,000 residential units on the Mangini Ranch, a part of the vast acreage annexed by Folsom earlier this year.

Do you see any infrastructure down there?

Water? No.
Roads? No.
Electricity? No.

Its going to be well beyond 2014.

David Miller is smoking something!

[camay2327]

Planes flying over too.

[jello]

Has there been any news on the planned development of the Aerojet-owned property that is also south of 50, between Folsom Blvd. and Prairie City Rd.? I believe they have been trying to get developers to sign on, but don't know if anything has happened yet.

[ducky]

Has there been any news on the planned development of the Aerojet-owned property that is also south of 50, between Folsom Blvd. and Prairie City Rd.? I believe they have been trying to get developers to sign on, but don't know if anything has happened yet.

I don't know about that section. The Mangini Ranch mentioned in the article is approved for 4,000 homes and is bordered by East Bidwell, White Rock past Scott Road, and then ends before Prairie City Road according to a map in a "The Business Journals" article on October 19.

[Rich_T]

And all this without ever asking Folsom residents if they wanted the land to be rezoned and developed.

[old soldier]

Planes flying over too.

i'd be one to bet that the developers city council won't let that be a problem, probably route the planes over us north of 50 folks...

[Robert Giacometti]

Do you see any infrastructure down there?

Water? No.
Roads? No.
Electricity? No.

Its going to be well beyond 2014.

David Miller is smoking something!

The infrastructure is coming very soon!

Did you see where the city is increasing the amount of revenue it collects by $3 million for BOTH the sewer and water fund to pay for "deferred" maintenance?

Where do you think that money is really going? They are going to have all of us N50 pay for the infrastructure for S50.

Don't be surprised if we see the City sell some large bonds here soon!