Huasna Development Co. is expected to complete work on its 28-lot subdivision near the Village of Arroyo Grande this month.
The Cherry Creek Estates neighborhood, located at Branch Mill Road and East Cherry Avenue, consists of 6,300- to 9,000-square-foot lots, which will start at $250,000 each, said Carrol Pruett, a retired local banker who owns the company with his son, Brent, a building contractor.
The Pruetts have been working on the infill project — bounded by Arroyo Grande Creek and farmland — with the city of Arroyo Grande, which is expected to give its final approval June 24, Carrol Pruett said.
Huasna Development took on the project in February 2009, buying it from local developer Cliff Branch.
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City manager Steve Adams said the project is important because it has helped the city to solve a long history of drainage problems in the adjacent neighborhoods.
The developers installed a drainage line, which provides drainage from Newsom Springs to Arroyo Grande Creek, as well as provides drainage off the Cherry Creek subdivision, Adams said.
“It is a challenging project in that it is adjacent to the creek and an ag preserve,” Adams said. “They have done a great job in terms of constructing it and addressing a number of issues. It’s going to be a nice neighborhood.”
Pruett said many of the lots boast mature trees and allow for detached garages with so-called granny units. The design guidelines call for homes to be built in a craftsman, Victorian or bungalow style to maintain the Village character.
A historic home, built by John Rice in 1894, will remain in the neighborhood. It will most likely be sold.
As well, there will be a homeowners’ association and more than two acres of open space in the project, Carrol Pruett said.
Despite the tough economy, he said there’s been interest from people who want to downsize to a smaller residence.
“They’re saying, ‘I’m living in a 4,000-square-foot house and I’m tired of maintaining it. I want something about 2,000 square feet.’ ”