John Laing Homes is paying nearly $1.4 million dollars per acre for home sites in Folsom’s Parkway project. The 16 acres will one day accommodate 137 residences, but the builder still has to pay for sidewalks, utilities and other improvements.
It’s the Sacramento region’s highest price ever per acre. Very few buildable lots remain in Folsom. And more tracts for homes won’t be available until the city annexes land south of Highway 50, which could take years.
Laing anticipates the homes will begin construction next summer. They’ll cost about a half million dollars, with 2,200 square feet.