The four parcels of land are located just outside downtown Redding, near Mercy Hospital, the major trauma center for the area, with spectacular views from the hills.
Currently zoned for 48 SF Homes, or 48 Duplexes, the buyer will have the opportunity to take advantage of the unique economy the US finds itself in today . Demand for SF homes has never been stronger, as has demand for SF Rentals or Duplex rentals. Due to the COVID Pandemic, there is also an increased interest in for-rent houses and duplexes. Only adding· to the trend is the remote work phenomenon that has taken hold, fueling growth in many cities across the nation with more affordable housing and access to the Great Outdoors . Redding is the gateway to Mt Shasta, the Sacramento River, the Trinity Alps and countless activities for outdoor enthusiasts.
Thus , with the current zoning, the builder could take advantage of either building and selling SF Homes , or building and leasing 48 Duplexes, 96 units, all with whatever features they feel would best fit the market.
As far as House sales, they increased by 20% statewide in 2020, and Redding was no exception to the increase of prices. With historically low interest rates, the strong desire for space due to COVID restrictions, and low inventory many smaller interior cities in CA have seen strong growth. Redding is the largest city in the area, with almost 100,000 residents. At the end of 2020, the unemployment in Redding was only 5%, despite the pandemic. All these factors combine to create a unique opportunity for the right buyer to take advantage of this unique moment in history to create a lasting legacy in Redding with a tremendous investment.
