NEWPORT BEACH, Calif.--()--Located south of East Palm Canyon Drive in Cathedral City, the Tesoro Project will consist of a single-family detached residential development consisting of 107 home sites. Over the last several years, George Baker, President of DEVCO Builders LLC, has processed the Tesoro project subdivision entitlement. The exciting project, named after the Spanish word for “treasure,” will be a private-gated community with a 150 foot expansion bridge entrance. It will consist of common residential facilities including a clubhouse, family parks, barbecue areas and a pool.
The property as a whole covers 16 acres which backs up to the base of the San Jacin Mountains in the Coachella Valley in Riverside County. The prices of the homes in this project will start from $339,000 to $409,000, with square feet ranging from 1,545 to 1,966. The initial phase consisted of 22 homes and is now positioned to compete with the current REO and foreclosure properties in the surrounding areas. Expectations are high for residents to be interested in buying these homes, as Coachella Valley appeals to both those who want to reside in the area full-time as well as those who come in from other parts of Northern and Southern California, Canada and Western United States for their weekend getaways.
Based in Newport Beach, California, MKA Capital Group Advisors is a real estate advisor, management and development company headed by Jason Sugarman in Investments and George Baker in Real Estate Development Projects, Construction, Asset Management, Leasing and Brokerage. MKA also manages funds for Institutional Investors. The company has been involved in developments throughout the entire western United States including California, Hawaii, Colorado, Utah, Oregon, Arizona, Nevada, Texas, Florida and Washington since 2002. They have been the developer or lead investor in over 100 real estate developments totaling over $3 billion in development value. MKA Capital Group has done business with top developers as well as small to medium sized real estate development firms.