Oct
18
Balancing Open Space With Development
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Faye: “Carlsbad has done a great job with open space. It also has a lot of topography that lends itself to open space so you don’t have houses on top of each other.”CARLSBAD, CA—One of the reasons Carlsbad has been able to maintain open space is that its 25-year overall plan is designed to keep houses from being built on top of each other, Presidio Residential Capital’s co-principal Don Faye tells GlobeSt.com. Presidio and Cornerstone Communities have broken ground on the Reserve, a 635-unit community on 156 acres—more than half of them designated as open space—that is being built on a former rock quarry in northeast Carlsbad. The retail value of the project, which will offer 293 single-family detached luxury townhomes and 342 luxury apartments when it opens in 2016, will exceed $200 million. We spoke exclusively with Faye about the project and why open space seems to be a key phrase when discussing Carlsbad development, as well as other trends he is noticing in the residential-development arena…
