Neighbor News
Presidio & The Grupe Company Plan to Build 10-Home Community in Fremont
Decoto Crossing is Ideally Located on Thoroughfare Between Fremont and Palo Alto, Near Employers, Shopping and Recreation
Presidio Residential Capital and The Grupe Company plan to build a 1.6-acre community with 10 single-family homes called Decoto Crossing, which will be located at 3068 Decoto Road in Fremont, Calif. Presidio and Grupe will break ground on this project late this summer, and the new neighborhood is scheduled to be completed by November 2017. Sales are expected to begin in spring of 2017. The retail value of this residential community will exceed $12 million.
“Fremont has become a hub of high-tech employment, including Tesla, the birthplace of electric car production,” said Mark Fischer, president of Grupe. “We look forward to building and selling this project with our new partner Presidio Residential Capital.”
Decoto Crossing will offer one- and two-story single-family homes ranging from 1,900 to 2,400 square feet on lots averaging 5,000 square feet. Centered around a beautifully landscaped private courtyard, the homes will feature tile roofs, granite countertops, covered front porches and the latest in energy-efficient features. All homes will be pre-wired for car-charging stations.
Find out what's happening in Fremontfor free with the latest updates from Patch.
“We believe that the greater Fremont area has room for private growth, and we think that this product will be well received by the market,” said Don Faye, co-principal at Presidio Residential. “We have known The Grupe Company for years and are pleased to close our first project with them.”
Located less than a half mile from Brookvale, a community shopping center, Decoto Crossing is also close to major employers, including Tesla, Washington Hospital, Palo Alto Foundation, Seagate and Micro Technology, among others. The Alameda Creek Trail, which connects to Quarry Lake Regional and Recreational Park, is directly adjacent to Decoto Crossing.
Find out what's happening in Fremontfor free with the latest updates from Patch.
For commuters, the community is ideally located on a direct thoroughfare to the Dumbarton Bridge that connects Fremont and Palo Alto. In addition, this new residential neighborhood is one mile east of Freeway 880, two miles west of Highway 238, 1.2 miles from the Union City BART station and four and a half miles from the Fremont BART station.
PanCal Decoto is the seller, and Collier Commercial was the broker on this deal.
According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 10 single-family homes will generate $2.9 million in local income, $360,000 in taxes and other revenue for local governments and 39 local jobs.
