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Sage Ranch
PROJECT OVERVIEW
Sage Ranch is a Greenbriar sustainable residential community which is a 138 acre site located between the parallel arterial roads of Valley Boulevard and Pinon Street near Downtown Tehachapi. The site is within a half mile from the City Hall, immediately adjacent all schools, and in close proximity to many shops, restaurants, and public spaces in the Downtown District. It is commonly considered as Urban Infill and located within the T4 Transect Neighborhood General zone as identified in the city zoning code. The T4 zone “is applied to Tehachapi’s general neighborhood areas to provide for a variety of single-family and multifamily housing choices in a small-town neighborhood setting.” An orientation to a variety of residential housing types are promoted as well as a focus on Streetscape and Public Realm considerations.
Greenbriar Webinar - November 3, 2022
Altus Valuation
Altus Group Limited, the real estate industry’s foremost recognized gold standard for feasibility analysis vetting for banks and lenders, has completed a report on the financial feasibility of Sage Ranch.
Development Scenario Built in 6 phases over approximately 6 years. There will be approximately 165 units per year. Projected Revenue 995 units, totaling 1,600,763 square feet saleable
Target average sales rate of $272 per square foot of saleable. $408,761,162 projected net residential revenue after 6% sales agent fees.Projected Profit $173,940,459 projected net profit and a 66.7% profit on cost. Project IRR 61.8%.
$123,719,669 Net Present Value based on a Discount Rate of 6% p.a.Video of City Council Meeting Approving Sage Ranch Project
SAGE RANCH DEVELOPMENT TEAM
Greenbriar Capital (USA) LLC is a fully vertical sustainable real estate company, acquiring, designing, engineering, entitlement, permitting, financing, building and selling entry-level.
Jeff Ciachurski CEO, Greenbriar Capital
Paul Morris, CEO, Sage Ranch
Siri Statom Administrative Assistant
JZMK is a 60 year old architectural firm that is nationally renowned for the development of Master Plan Communities, Mixed-Use and Residential Design for both International and National.
Cachi Martinez, CEO / Partner, JZMK Partners
Katja Martinez, Principal, JZMK Partners
John Leehey, Director of Planning, JZMK Partners
THE MASTER PLAN FOR SAGE RANCH
The Master Plan for Sage Ranch is consistent with numerous new planned communities throughout California with an orientation toward smaller lots, less maintenance, walkable communities and access to nearby parks and community amenities. New Urbanist planning and Traditional Neighborhood Design provide the over-riding context for the community development. Realizing that there is a greater orientation to open space in a small-town setting; the 7.2 Home/Acre Gross density is actually lower than most of the new planned communities that are planned throughout California.
THE REGION OF TEHACHAPI
The region of Tehachapi is well known for its community activities and strong civic pride. Locals love the family and social opportunities that are prevalent there. It seems every weekend has something happening whether it is the rodeo, a cycle or running event, famers markets, shopping events, high school football, and the many other numerous civic and charity events.
The natural beauty of this Mountain Town and surroundings provide so many opportunities for hiking, horse-riding or just enjoying the scenery. The holidays are also highly celebrated with festivities and opportunities to express the local pride in community and country. Tehachapi is a special place, where new home buyers can take advantage of the multitude of activities offered and enjoy a mountain lifestyle that most people can only dream of.
Tehachapi Lifestyle
MARKET FOCUS
The Market Orientation provided the planning for 995 total dwelling units at an overall gross density of 7.2Homes/Acre. Eight different housing prototypes ranging from 5,500 SF Single Family lots with 2,600 SF Homes to Single Story Attached Homes at 950 SF define the for-sale market. Apartments constructed at a condominium specification are also included with a range of 750-1,200 SF. There is a diversity of housing options within the community that appeal to a large demographic and wide variety of income buyers. Current Market speculation is that about 20% of the buyers will be local homeowners, with the 80% balance anticipated for out of town buyers.
Engineering Hub of California COMMUNITY BUILDING
The parks and community buildings will be constructed by the master developer. Builder responsibility is to tie into edge conditions where applies. The apartment amenities and clubhouse are requirements of the apartment builder.
Parks and Community Amenities will be a strong part of the community. A hierarchy of community, neighborhood and pocket parks is proposed. The Central Park at an approximate 4 acre size will provide the heart of the community and is planned to provide numerous active and passive park amenities. An iconic community building is proposed to allow gathering functions with kitchen, meeting room and bathrooms.
Conceptual Community Building Farmhouse Design
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