Jan 15, 2015, 2:55pm PST UPDATED: Jan 15, 2015, 4:52pm PST
Ben van der Meer
Staff Writer- Sacramento Business Journal
Nearly eight years after being announced, a single-family housing project by MBK Homes is coming together in Fair Oaks.
By summer, the first sales should be closing for Madison at Fair Oaks, an 89-home infill project at 5500 Cannes Way.
Rick Fletcher, vice president of sales and marketing for Irvine-based MBK, said Madison at Fair Oaks was envisioned in 2007 as one of three company projects in the Sacramento region. MBK planned two others, one in Citrus Heights and the other in Elk Grove, but the recession put plans for all of them on hold.
"They became legacy projects," he said. "We had to get through the recession and through the trough of the housing cycle to consider them again. Now we've gotten to the stage where the market is stable and the demand is strong."
In the meantime, the company has updated the design of its houses at Madison at Fair Oaks. At 2,600 to 3,200 square feet, the houses will have open floor plans and lots of natural light, features more in tune with today's buyer, Fletcher said. They also will be more energy efficient and have expanded floor plans to create more patios and indoor/outdoor living, he said. "With the product being updated, customers are not going to look at it as, 'oh, that's been here a long time,' " he said.
Mark Gross & Associates is the architect for the project, which is now underway. Fletcher said there should be a grand opening of a model home by the end of next month. Prices for the homes will start in the mid-$400,000s.
The company has since sold off the Elk Grove and Citrus Heights properties
[ Posted January, 29th 2015 ]