San Diego-based investment firm Presidio Residential Capital is investing $18.7 million to build a 51-unit gated community of detached homes in Baldwin Park.
Company officials said construction is expected to begin in December, with an opening planned for April 2015 in the Los Angeles County city.
Contractor South Coast Builders, a division of Irvine-based urban developer South Coast Communities LLC, will construct 51 detached two- and three-story villas on a 3.6-acre infill site that was formerly occupied by a church and school. The development will have three- and four-bedroom units and will also include a water feature and community park.
Presidio invests primarily in residential developments in the western United States, and currently has investments in California, Hawaii, Texas, Nevada, Idaho and Washington.