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OSCG Partners With Developer On $80 Million Apartment And Housing Development Project
ONE SOURCE CAPITAL GROUP has partnered with a California and Texas-based development company Hollyhills Development and the two companies have closed on an 18-acre parcel to develop a 99-unit luxury apartment home complex along with a 14.4 acre parcel for 74 single-family turn-key homes.
The properties purchased for the future apartment and home developments are located next to 1.2 million square feet of new shopping and restaurant space currently leased at 98% occupancy in a California town known as Hanford.
Daniel Bailey, President of Hollyhills Development, states that, "The market in Hanford is as stable as ever, the recent growth has created a rather large number of new jobs and local opportunities. Presently in the Hanford area, there is a housing and apartment shortage and because of this, many employees in the Hanford community are commuting from Fresno daily where they currently reside. In Hanford, new homes sell the minute they go up for sale and the apartment complexes, even the old and very out-of-date ones, typically have large waiting lists."
Mr. Bailey also makes it clear that this would not be the only project in the Hanford area for his Hollyhills Development group as he truly believes in the community along with the market within the general area and expects his team to look for additional locations for other future development opportunities in the Hanford community.
Mr. Taber, CEO of ONE SOURCE CAPITAL GROUP, mentions that," His partners/private loan committee team, all strongly agree that the Hanford community is a solid investment based on the economic growth within that community along with the growth of surrounding communities due to the level of government services and government contracts that have recently been added to the Lemoore Air Base and its subsidiaries.
These recent government additions along with the ancillary jobs and other service needs that have been created through these new government additions will strongly influence a solid market in Hanford for many years to come. Also today's lending guidelines are very flexible regarding the loan programs which most home buyers in Hanford are taking advantage of. The ease of the loan process today along with where the rates presently stand make home ownership very obtainable in Hanford."
Mr. Taber adds, "ONE SOURCE CAPITAL GROUP will continue its focus on making competitive and sensible loans customized to each of its clients as financing residential, construction and commercial loans is what we do and do quite well. However, we are in the arena of real estate, and if ONE SOURCE CAPITAL GROUP has the opportunity to partner in additional real estate development opportunities with other development groups, those future opportunities would be of interest to us and discussed seriously with the loan committee."
OSCG News and Events
ONE SOURCE CAPITAL GROUP - a competitive and recognized lender has executed a lease in the El Dorado Hills Business Park and is constructing a new luxury lending office as (OSCG) to continue its growth and market awareness throughout Sacramento, San Francisco, and Lake Tahoe.
ONE SOURCE CAPITAL GROUP is very excited about the opportunity to become a large, local presence in the Mortgage and Construction Lending world as the forecasted growth of these local communities future developments and expansions are and always have been niche programs with the ONE SOURCE CAPITAL GROUP.
Derek Taber, Chief Executive Officer, states that, "The timing of our group coming together and opening an office in the El Dorado Hills community couldn't be any better. We will bring a much-needed, polished approach to the mortgage and construction lending arena for residents looking to purchase new upcoming properties along with making capital readily available for the local builders and developers seeking capital to further expand their development opportunities."
Mr. Taber promises a fresh, renewed way of doing business. As CEO of a previous successful mortgage bank in Orange County, California, which focused on realtor and builder business, Mr. Taber fully intends on bringing the same communication, marketing and lending model, to the Sacramento, San Francisco and Tahoe marketplace that has allowed for his realtor and builder partners to continue to grow their customer base and expand their businesses.
Mr. Taber also states, "Don't be surprised to read about ONE SOURCE CAPITAL GROUP buying land jointly with its development partners in the El Dorado Hills or Granite Bay areas for the purpose of developing additional home communities along with office and retail spaces in specific areas which would warrant such uses."
At this time, ONE SOURCE CAPITAL GROUP has a very good grasp on the Sacramento marketplace and its team has a realistic understanding of the expected future area growth and is fully committed to having the appropriate programs, terms and capital readily available for our clients, realtor and builder partners when they have immediate capital needs.
ONE SOURCE CAPITAL GROUP expects to be open in the fourth quarter of 2017.