Building boom in Angels

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By MIKE MORRIS

Angels Camp housing is in demand.

The city's Community Development Department has issued 37 permits so far this year to builders of single-family homes. Planning officials issued only 42 in all of last year.

Faye Perata, Angels Camp's building clerk, estimates she'll process 30 more permits before the year is over.

"We have a very big residential boom," said Jim Oakes, Angels Camp's building official. "Basically, people are coming in from all over from the Bay area, from the Valley, from within the community here. People are buying up lots and building custom homes on them."

Most of this year's 37 permits are in Angel Oaks and Greenhorn Creek subdivisions, Perata said.

Ron Davis, developer of Angel Oaks, just west of where highways 4 and 49 meet, said about 25 are for homes in Angel Oaks.

"It's just absolutely mind-boggling. We've just been building homes left and right," Davis said. "It seems like everybody wants to build now."

But why now?

"People just got frightened for a brief while, and now they've picked back up," Perata said, referring to the nation's economy.

Many Angel Oaks residents decided it was best to invest their money into real estate rather than the stock market, Davis added.

"People are investing in real estate because it's not going to evaporate," he said.

All of Angel Oaks' 191 lots have been sold, and are continually being developed. The lots sold for $65,000 to $75,000 each, Davis said.

The remaining lots in Greenhorn Creek, however, are expected to sell for about $90,000 to $250,000 per lot. Seasons is the fourth and final phase of Greenhorn Creek, near Angel Oaks.

Grupe, a Stockton-based company, developed the first three stages of the upscale resort tract.

A Los Angeles real estate investment company is developing the 56-lot final phase.

Pat Trinchero, formerly Grupe's No. 1 salesperson and now sales manager for Seasons, said those lots are expected to go on sale in mid-October.

11508721
The Union Democrat
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