Responsible Residential to Develop Townhomes in Santee
El Cajon-based Responsible Residential secured $3.45 million in construction financing for development of the Carlton Oaks Townhome in East San Diego County. The 10-unit for-rent community will consist of two three-story buildings at Carlton Oaks Dr. and E. Heaney Circle in Santee.
Responsible Residential’s Bryan T. Underwood says, “We are pleased to bring much-needed housing to the Santee market and look forward to doing our part to increase the housing supply throughout San Diego.”
Each townhome averages 1,477 square feet and includes three bedrooms with three-and-a-half baths and features a two-car garage. Units are also pre-wired for electric vehicle charging and have en-suite bathrooms for all bedrooms, stacked in-unit washer and dryer, stainless-steel appliances, chrome and brushed nickel fixtures and carpet and luxury vinyl flooring with some units including balconies and personal patios.
JLL Capital Markets’ Chris Collins worked on behalf of the borrower to secure the loan through a private lending source.
For comments, questions or concerns, please contact Dennis Kaiser