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Folsom, California is extending their Real Estate by allowing Real Estate development south of Highway 50 for up to 30,000 new residents.
This plan will bring about 12,000 new residential units to Folsom, 7, 500 new jobs and a regional mall for the area.
Once again the Tsakopoulous, one of the Sacramento developers, appears to be among the seven landowners or at least affiliated with them in what has been a long time discussion in developing and extending the City of Folsom.
Supplying water to this area is and has been an issue that must be resolved. I do hope that some thought goes into this before adding to an already problematic issue.
Many current Folsom residents oppose this development and have for some time, now. One of the main objections that Folsom residents have is the water issue.
30% of this undeveloped area must be kept as open space, if developed water would have to be found other than where the current Folsom residents get their water currently and current Folsom residents will not be expected to pay for new schools in the newly developed area. Which means that the Mello Roos for that new area will be something to be reckoned with…are the new home builders planning on footing the bill or are the new home buyers for the newly developed area eating the full cost…hmmmm. That should be an interesting monthly payment.
With 800,000 to 1 million people moving into the Sacramento County area over the next 30 years, south of the 50 corridor appears to be a place for expansion. City officials and current Folsom residents need to focus on the issue of water and not drain the available resources. Responsible planning is at stake here.
For more information about this be sure to read the Sac Bee article.
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Folsom Point Closure…Enough Already!
Will Intel Layoffs Have an Impact on Real Estate?
photo above provided by the City of Folsom pm behalf of Sacramento Bee/Nathaniel Levine
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