As a private gated community, the project will feature common area facilities such as a clubhouse, pool, family parks and barbecue areas.
Newport Beach, California (PRWEB) March 04, 2013
MKA Capital Group, a real estate advisor, management and development company, is proud to announce the Cathedral City, California Tesoro Project breaking ground this Spring. The project, named after the Spanish word for “treasure”, is a planned single-family detached residential development. It consists of 107 home sites located south of East Palm Canyon Drive in Cathedral City. During the last several years, George Baker, President of DEVCO Builders, has processed the Tesoro project subdivision entitlement. As a private-gated community, the project will feature common area facilities, such as a clubhouse, pool, family parks and barbecue areas. There will also be a 150-foot expansion bridge entrance to enhance the project.
The homes in the property will range in size from 1,545 to 1,966 square feet, with pricing of $339K to $409K and will compete with the current REO and foreclosure properties in the surrounding area of Coachella Valley. Interest in these homes is expected to be prevalent as the Coachella Valley appeals to both to those that reside in the area full-time as well as those that come in from other parts of Northern and Southern California, Canada and the Western United States for their weekend getaways. The initial phase consisted of 22 homes that came with four models and 18 production houses. The property will encompass approximately 16 acres that backs up to the San Jacin Mountains.
Headed by Jason Sugarman in Investments and George Baker in Real Estate Development Projects, MKA Capital is a premier real estate development company that manages funds for Institutional Investors. Since 2002, the company has been in developments throughout the entire Western United States including California, Hawaii, Colorado, Utah, Oregon, Arizona, Nevada, Texas, Florida and Washington. The company has also been the developer or lead investor in over 100 real estate developments totaling over $3 billion in development value. MKA Group has done business with top developers as well as small to medium sized real estate development firms.