Rising mortgage rates pushing 7 percent have cooled the Manteca housing market, but it’s not enough, to discourage new home builders from proceeding with new projects.
It is why Richmond American has submitted plan checks to the City of Manteca Community Development Department for two model home complexes to start sales for the 760-home Villa Ticino West neighborhood southwest of the Louise Avenue and Airport Way interchange.
Infrastructure work has been underway for several months for the new neighborhood south of the Manteca Unified School District office complex.
Access to the neighborhoods will be from existing traffic signals on Louise Avenue that aligns with the access street to the business park where Amazon Prime is located to the west of the USD complex.
Access from Airport Way will be from traffic signals being installed at Crom Street.
Those signals will also serve the 99-home Yosemite Greens neighborhood now under construction that borders the western edge of the Manteca municipal golf course.
The Villa Ticino project will widen segments of Louise Avenue and Airport Way that are adjacent to the development.
Richmond American — currently building 270 homes near McKinley Avenue and Woodward Avenue — is developing Villa Ticino.
Not being developed currently is a high density parcel that at one time had plans for a 320-unit apartment complex.
There is also 14.4 acres of commercial on the corner of Louise and Avenue.
Two of the other corners of the intersection also have vacant parcel zoned for commercial.