Builder CaliforniaWest and investment firm Presidio Residential Capital have begun construction on the first model homes at Westerly, a 71-home neighborhood in San Marcos with total retail value of $56 million.
A statement from the two San Diego-based companies said the new 13-acre single-family development is located within the larger 253-acre Rancho Tesoro master-planned community being developed by Brookfield Residential. The community is located near the intersection of Twin Oaks Valley Road and Village Drive.
Westerly’s sales office is expected to open in late spring 2017, with completion of the development expected by spring 2019. This is the first joint venture between CaliforniaWest and Presidio.
Officials said homes at Westerly will have three floor plans designed by KTGY Group. The community will have a recreational facility with a pool, spa, tot lot, bocce court, fire pits, and barbecue and picnic areas.
