Category Archives: Development

Real Estate Growth in Sacramento

 

I found this little article and video on McKinley Village interesting – Let’s go take a look!

Video

Best,

Keith Klassen, Real Estate Broker

916.595.7900

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Sexy Sidewalks, Curbs and Gutters

Okay, I know the title is a bit misleading, but how else will I get your attention?  Ha ha… just a quick update on my building project.  The sewer lines, manholes, fire hydrant, and water main have gone in and have passed the inspections!  Now to get the sidewalks, curbs and gutters in (Update:  Just got text from my contractor yesterday and said they poured concrete!  “check”).  Next week, repaving the street.  Then maybe we’ll build a few houses if I’m lucky.  Stay tuned.IMG_0097

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New Development in Curtis Park, Sacramento

Yeah, I know what you were hoping for… an article about Curtis Park rail yard development.  Sorry not on this one – no chit chat about gas station wars and dollar stores.  Instead I’m inviting you to follow my own development experience as I build out two houses.  I hope to post some thoughts on the grueling process of splitting the lot / sub-dividing the parcel map.  Could be educational to some – loads of learning from my mistakes and experience.  I’ll be talking about the ins and outs of the scope of work, contracting, and architectural plans.  I’d love some feedback on the design elements when we get to the interior (yeah, everyone loves the interior – this is the sexy part).  Ultimately, these babies will be sold and I will be high-fiving my contractor and business partner.  Welcome to my housing development journey.house rendering

Brief background

If you live in the area, you can check out the progress on 5th Ave., highway 99 frontage road, and Portola Alley.  I bought the house on 5th Ave. in 2008 and got the approval to subdivide the parcel later that year into 3 lots (original house sits on one, leaving 2 to build on).  Oh yes, it came with conditions.  I figured a budget of $25,000 to do curb and gutter work and maybe a few other things.  The City gave me a laundry list of improvements that got bid out between $100,000-125,000 – Yikes!  That killed the deal quickly.  So for the next six years I paid a portion of the property taxes and kept the weeds down.

5th ave overview pic

Fast forward to 2014… I saw a house sell for a decent price on the alley and knew it was time to build.  I got a contractor on board to share the project and do the work at cost (cutting the improvement work cost more than half).

Contact me if you want to discuss the boring, but essential ins and outs of engineering, special use permits, bonding, traffic plans, dealing with the City/fighting with the City (everyone has their war stories), utilities, etc.

We’ve begun improvement work – manholes, water main, sewer main, fire hydrant, and much more!  At the same time I’ve got an architect putting plans together and submitting to the Design Review Board.  In addition, I just got bids from five structural engineers and Title 24 bids.  Yay, getting serious.

lot clearing

Scrubbing the lot earlier 2016

 

“Man holes” – or should I be PC and call them “people holes” – might get a few weird looks?

 

Dropping the “hole” in the ground

Jimmy is the MAN!

Never thought I’d be so exited about a fire hydrant.

Water main beginnings.

Stay tuned for the next phase.

Cheers,

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Keith Klassen, Real Estate Broker / 916.595.7900

Curtis Park Villiage (Sacramento) is Becoming a Reality

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After years of debate, soil treatment, neighborhood meetings, planning and develop the Curtis Park Village is now in full swing.  Twenty fourth Street is now  open to drive through, and unbuilt/pre-release homes have hit the market.  These stylish “cottage” homes (as they are referred to on the listings) have 3 bedrooms, 2.5 baths and range from 1790 to  2163 sq. ft., with options of a den, 4th bedroom, and one car or tandem garage.  They are listed from $564,990 to $609,990.

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One of my first thoughts was, “I wonder at what rate will that sell?  Are they going to go like hot cakes, or sit there with  price adjustments, etc.  Currently one has already gone pending, which is a good sign that they are a hot commodity.  It clear that first-comers will get choices of location, different options and amenities, and maybe will get in on the lowest price?  If the sell fast, those prices could go up!

Leave a comment or give me a call if interested and I can forward you the listings, or set up an appointment with the sellers for  more in depth information about the properties.

Truly,

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Keith Klassen, Broker

916.669.9030

Energy Efficient Home In Sacramento CA

I am fortunate to do regular work with the developers, Housing Group Fund, especially in acquiring and selling properties.  They recently partnered with Smud (our local utility company) on a home in a middle to lower-income area to rehabilitate it and make it energy-efficient.  Yesterday they held an open house for the real estate community.  They had the Quad-Lock blocks on display (see an earlier post of mind on this product, on this home).

This home is a great example of what true stimulus can accomplish.  Neighborhoods that usually do not get attention like this, could be transformed.

A friend of mine and appraiser, Ryan Lundquist, was there too and put together a fantastic video showing off the home.  Check it out below.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

New Energy Efficient Technology

This post is not very sexy, but hopefully interesting.  No special windows or solar-power… just insulation.  I work with a (re)developer that is partnering with Smud (our local utility co.) on a rehab project in South Sacramento.  Smud’s claim is that this is the first house on the west coast in which this product has been use.  In layman’s terms, it’s a foam, interlocking block that is stacked up around the outside of the house.  Wire and stucco are then applied.  Supposedly it is extremely easy to install (my kids would love to get a hold of this stuff) and super energy efficient.

Enjoy,

Keith Klassen – Real Estate Broker

916.669.9030

Sacramento River Front Development in the Near Future?

recent article in the Bee by Bob Shallot indicates that new homes are scheduled to be built in the industrial area where Broadway and I-5 meet.  One thousand homes are planned to be built.  The first 200 will be built on seven acres over the next 3-4 years.

Sacramento is growing and changing!  It’s exciting to be on the front end of real estate in these days.  Send me a note if you want to discuss or pitch in your 2 cents on the real estate market and climate.

Enjoy,

Keith Klassen

916.669.9030