Eucalyptus - Site 52

Lot 52 (20 acres, zoned Low Density Residential) at the corner of Eucalyptus and Sycamore is one of 5 sites available with a total of +/- 83.2 acres of approved land, ready for tentative and final maps. The parcels are located in a 692-acre master plan development called the Villages of Patterson ("VOP"). The lots are zoned either high, medium, or low density residential with a total minimum of 502 lots and a maximum of 797 lots. - 6.5 million SF of commercial property has been built between 2011-2018. This represents approximately 4,300 new jobs. - Patterson has enjoyed many new retail services including, Walmart, CVS, and Walgreens, as well as new restaurants, coffee shops, hotels, and banks. - According to Redfin, Patterson's average home sales price increased +32% in the last 12 months. The sales activity has increased over 60%. Most homes receive multiple offers, often with waived contingencies, and sell within 5 - 8 days. - The recent absorption rate for new home construction is approximately 15 - 17 units per month.te