San Diego-based Presidio Residential Capital and general contractor Pebble Creek Cos. of National City have partnered to build Afton Way, a five-acre Carlsbad residential development with eight homes and an expected retail value of more than $9.5 million.

A statement from the companies said the infill project is expected to break ground in October at 2200 Afton Way, with completion in July 2017. This is the first joint venture project for the two firms.

Officials said the community will also include 53,500 square feet of open space. The eight homes, with an average lot size of 15,000 square feet, will replace one single-family home currently located on the property.