Locally based investment firm Presidio Residential Capital has provided $8.2 million to build the first phase of a planned $18.8 million urban infill project in San Diego’s Golden Hill neighborhood.

The Golden Hill Row Home project consists of 27 detached homes with a large private park, according to officials of San Diego-based Presidio. The homes will get more than 50 percent of their electricity from solar power and will be equipped with energy efficient appliances and fixtures.

The developer is Fit Properties of San Diego.

Ground was recently broken for the first 20 homes, with presales to begin in spring 2014 and full build-out expected by March 2015. The development is located between 28th and 29th streets, and B and C streets, near Balboa Park and downtown San Diego.

The privately held Presidio has more than $2 billion under management and is focused primarily on the housing sector. It has current investments in California, Hawaii, Texas, Idaho and Washington.

— SDBJ Staff Report