In The News: Sweetwater Vistas Entitlements Approved for 218 Homes
Developer plans moderate-priced housing in Spring Valley
The developer of a recently-approved 218-unit housing project in unincorporated San Diego County says it will build moderate-priced homes.
Douglas Wilson Co. expects to offer townhomes starting in the low $400,000s in the unnamed 52-acre Spring Valley development.
While that might not sound like a moderate price to many working families, it is below the $529,750 median home price in September for the county. The newly built median was $671,500.
“We always envisioned this project to provide a lot of open space and housing price points that would be very attractive,” said Douglas Wilson, CEO of the San Diego-based company. “It’s what people are really clamoring for in the county.”
It is common for builders in the county to say constructing homes at the high-end is their only option because of the high cost of land and regulations.
Wilson said that prices are a bit lower at this project because his company was able to acquire the land fairly cheaply in East County. He said trying to build a project like this in North County, where land is much more expensive, would be a different story.
Also, the price is right around what the area would be willing to pay based on the company’s market studies.