Subdivision - 45 Single-family homes in Jamestown, CA
The lender on this property retained Hussey Real Estate Group after they took the property back in foreclosure in late 2000. The previous developer had lost the propertyís subdivision entitlement and the 20-acre site reverted to raw acreage. At the time, the property was worth less than the lenderís loan. Hussey developed a workout strategy and entered a joint venture agreement with the lender to re-entitle and develop the property with the goal of recouping the lenderís investment. Working with local engineers, Hussey successfully entitled the property as a gated community of 45 homes. Sensitive environmental issues, such as the siteís history as a mining location and the crossing of an intermittent stream and riparian corridor, were resolved. Construction of site improvements began in late 2004, and the first of these Toulumne county homes are now under construction. Through a partnership restructuring, the lender has already recouped their initial investment plus interest.
In addition to Jamestown, CA real estate, Hussey Real Estate Group currently offers two gated communities in Chowchilla, CA. The luxurious Chowchilla, CA real estate offered at The Cascades and The Villas offers lake and golf course living, along with classic European architecture and lush landscaping. If youíve been looking for new construction in Fresno, Madera, Merced or Modesto, contact Hussey Real Estate Group about these popular resort communities.