PrintPatterson home plan pitched
The developer of the Keystone Pacific Business Park and Patterson Gardens is proposing a nearly 2,000-home subdivision centered around a lake northwest of Patterson.
From The Modesto Bee
Patterson home plan pitched
By CHRISTINA SALERNO
csalerno@modbee.com
last updated: August 07, 2007 04:16:38 AM
PATTERSON — The developer of the Keystone Pacific Business Park and Patterson Gardens is proposing a nearly 2,000-home subdivision centered around a lake northwest of Patterson.
The Keystone Ranch project would be built on 475 acres adjacent to the industrial park, bordered by Baldwin and Zacharias roads, said Patrick Gavaghan, president of North Carolina-based Keystone Corp.
"We've looked at that site, which was owned by the Ielminis, as the next site to bring housing closer to the industrial park for the jobs and housing balance to work better," Gavaghan said.
The Ielmini family owned Patterson Frozen Foods for three generations until recently selling the company.
Keystone started negotiating for the land late last year, Gavaghan said. The deal closed in May for $85,000 an acre. The land is outside of the city limits.
The firm is working with KTGY Group, an Irvine-based architecture and planning company, to develop plans for the subdivision.
"We would like to have a fantastic lake community that would be the focus point and the main amenity," Gavaghan said. It would include a mix of retail shops, schools and city parks.
That would leave 375 to 400 acres of land for housing, he said, with an average of five units an acre, or about 2,000 homes.
Gavaghan still faces a long process of approvals as the area proposed for the project sits outside of the city's general plan.
Rod Simpson, Patterson's community development director, said the land would have to be designated residential by the general plan. It is being revised and is expected to be completed by November 2008.
The land would have to go through the annexation process, and receive a final approval from the Stanislaus Local Agency Formation Commission.
Gavaghan said his firm hopes to break ground in four years, after the housing market has leveled out.
"There is no market for housing right now in the Central Valley. Most projects are going to fail for the next three to four years, especially those projects that are titled and ready to go," Gavaghan said.
Another master-planned community already is under way, after winning approval for annexation in March. The 700-acre Villages of Patterson will bring 3,100 homes, with hundreds of affordable housing units, to northeast Patterson.