Nobody bought a house in 2008 or 2009 at Tapestri Square in midtown Sacramento, and construction halted. The following two years brought just a handful of sales.
Through it all, developer Kevin Noell soldiered on, hopeful that the market would recover and he could finish the 58-unit, brownstone-style tract he started in 2007.
Now the upscale infill housing project between 20th and 21st and T and U streets is buzzing with activity. Noell, president of MetroNova Development is again selling homes, 60 construction workers have jobs with 10 houses under construction, and three more are sold and scheduled to be under way soon. He is now more than halfway through the development.
“Demand since the first part of the year has skyrocketed,” Noell said.
The turnaround was sudden. It was like “night turned into day,” he said.
Read the full article at Sacramento Business Journal Online.
