New homes under construction in the Northlake community. / NatomasBuzz.com Photo
BY BRANDY TUZON BOYD
THE NATOMAS BUZZ | @natomasbuzz
Updated Jan. 26, 2021 at 11:30 a.m.*
The first homes were released for sale last week in the latest new-growth area of Natomas.
The Northlake master-planned neighborhood is situated at the intersection of Highway 99 and Interstate 5, south of West Elkhorn Boulevard.
Sales have started for the first phase of development, which includes approximately 1,137 single-family homes being built by Lennar.
Lots for new single-family homes in the Northlake community were released for sale last week. / NatomasBuzz.com Photo
Sixteen single-family lots were released Thursday and another 16 lots were released Friday heading into the weekend, according to Natomas real estate agent Sergio Arreguin.
“I’ve also been told that after this initial 32 home release is secured with buyer contracts and earnest money deposits, they will be releasing an additional 32 homes,” said Arreguin.
The homes released by Lennar last week range in price from $444,990 for a 1,774 square-foot model to $682,990 for a 3,391 square-foot model with a custom deck added, according to a price list provided to The Natomas Buzz by Arreguin.
Integral Communities is the owner and master developer of Northlake, previously known as the Greenbriar area, and Lennar is building all of the single-family homes.
As planned, the 577-acre site will feature 2,175 single-family residential units and be home to an estimated 11,000 people. In addition to single-family homes, plans also include 331 multifamily units, commercial development as well as open space to offset the loss of wildlife habitat.
Some of the new homes in Northlake will offer lakeside living. / NatomasBuzz.com Photo
After a decade of planning, Northlake broke ground in October 2019 and has slowly been taking shape during the pandemic. The project gets its moniker from a large lake — retention basin — located at its center.
Escrow is expected to close in late June for the first homes released last week by Lennar, according to the list provided by Arreguin.
Single-family homes in Northlake are not being built on a speculative basis, Arreguin said. Home buyers must be pre approved by the builder’s lender and deposit earnest money from $7,500 up to $15,000, depending on the model, he said.
Model homes are not yet available to view at Northlake and the on-site new home center is only available by appointment, but several prospective home buyers were seen visiting the construction site last week. Messages left for Lennar were not returned.
Northlake will have a variety of housing types, according to a post on Facebook by Councilmember Angelique Ashby in October 2019.
Currently there are no model homes to tour and the new home center is only open by appointment at Northlake. / NatomasBuzz.com Photo
“(Northlake) started as a high density project but has been reduced significantly to a more mid density project with some options (two market rate apartment complexes, one senior affordable complex, lakefront homes, and more),” the post reads.
In addition to the single-family homes already under construction, The Sacramento Business Journal reported in August 2020 that Sacramento-based St. Anton Capital has submitted plans for a 191-unit affordable senior housing project in Northlake.
A K-8 school is also planned for Northlake. While the Lennar website for Northlake lists several existing area schools within the Natomas Unified School District, the development sits within the Twin Rivers Unified School District boundaries.
Community amenities will also include parks, walking and biking trails and an anticipated light rail line from downtown to Sacramento International Airport.
*Updates include specific number and types of housing provided by Lennar after this article originally went to press.
A large lake — retention basin — is a prominent feature in the new Northlake community. / NatomasBuzz.com Photo
Northlake is a master-planned community located between Interstate 5 and Highway 99 which will include a variety of housing types, a school, parks and more. / City of Sacramento Image
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