Folsom, El Dorado Hills region booming with new business, housing
... The Spanos Corporation of Stockton is the developer proposing the Town Center apartment complex.
“We believe we could have our county approvals in the next six to eight months. We would be interested in developing it right away,” said Lex Economou, Spanos regional vice president.
The units are targeted for the empty hotel site across the street from Selland’s Market Café on Town Center Boulevard. Foundation work could begin after the first of next year, he said. No construction cost estimate was made for the project.
Meanwhile, at Town Center itself, Tony Mansour, chairman of developer The Mansour-Nagle Partnership, said the firm is having expansion discussions with some tenants “but nothing significant.” His company has no involvement with the planned apartment building.
Overall, Town Center is “holding its own, is growing slowly,” Mansour said. Conceived in 1995 and opened just over 10 years ago, Town Center is “busier.”
Doug Scalzi, retail director with KW Commercial Real Estate in Folsom, sees the business real estate market “definitely picking up.”
Last year and so far in the new year’s first quarter, El Dorado Hills has been “very active in the commercial market,” he said.
The industrial real estate market is “pretty hot” now in the Sacramento region but Folsom doesn’t have much industrial space. “El Dorado Hills has more industrial in its Business Park,” he said....
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