Real estate brokerage firm CBRE has announced that local developer Dan Floit has purchased four residential lots in Lakeside, totaling 26.37 acres, for a planned development of 200 single-family homes and attached twin homes. The purchase price of the lots, currently within a development called Settlers Point, was 4.25 million. The seller was Odom Family LP. Tim Kerrigan of CBRE represented Floit and the seller of Settlers Point. The brokerage firm said Floit plans to rename the project Jackson Ridge. Construction is scheduled to begin in August, with completion and move-ins planned for spring 2015.
Jackson Ridge is planned to be similar to Jackson Pointe in Spring Valley. In 2010, Floit paid $3.92 million for The Pointe Mountain Top, a 15.8-acre gated residential community in Spring Valley, consisting of 24 town homes and 87 finished lots. That property was renamed Jackson Pointe, and Floit developed an additional 87 townhomes. In the Pointe Mountain Top transaction, Jim Neil of CBRE represented Floit and the seller of The Pointe Mountain Top, First Regional Bank.
Construction on the Jackson Ridge development is scheduled to begin in August 2013 by RQL Construction and the project is tentatively planned to be ready for move-ins by the spring of 2015. RQL Construction has worked with Floit Properties on a number of other projects in the greater San Diego County area including 29 single-family homes at Mirabelle in National City and 36 townhouses at Paradise Walk in National City.