November 15, 2019 |
A Grand Opening for New Heights, a gated community with 43 single-family homes in West Hills, CA held on Saturday, November 16, 2019.
Developed by Watt Communities and Presidio Residential Capital, the four-bedroom, three-and-a-half-bath homes will range from 2,069 to 2,200 square feet. They’re priced from $653,900 to $747,900. New Heights, at 22135 Roscoe Blvd. in West Hills, is close to the 101 and 118 freeways in the western San Fernando Valley. The first phase of the project includes 11 homes. Eight have been sold and three are available. Phase II will include 12 more homes which are expected to completed by the end of March, a Watt representative said.
A prime location
Nam Joe, Southern California Division president for Santa Monica-based Watt Communities, said the community’s location will appeal to a wide range of homebuyers. “West Hills is a highly sought-after location — a family-friendly oasis just 30 minutes from downtown Los Angeles,” he said. All of the homes feature a downstairs bedroom and bath, designer finishes and spacious kitchens with energy-efficient appliances and ample pantry space. Private master suites include walk-in closets, and every home includes solar panels, a two-car garage pre-wired for electric car charging, water-efficient fixtures and other energy-saving features.
New Heights marks Watt Communities’ fifth joint venture project with Presidio Residential Capital, a San Diego-based real estate investment firm.
California’s housing shortage
Developments like New Heights are sorely needed. A 2017 report from the California Department of Housing and Community Development found that developers are building an average of 80,000 new California homes a year, a number that falls well below the 180,000 that are needed annually.
California will need more than 1.8 million additional homes by 2025 to keep pace with the state’s ever-growing population, the department said, and Gov. Gavin Newsom wants to see 3.5 million new homes built by then. That equates to 500,000 a year — far more than the 80,000 new units that were built last year.