Hopkins Village, a new for-sale housing development located in Martis Valley, developed exclusively for buyers who work locally. The development will consist of forty units (20 half-plexes), each containing 3 bedrooms, 2.5 baths, and a garage, will be constructed and sold entirely to local workers with a starting sale price of $577,500 up to $615,000. A quarterly fee of $660 will include management of the development, replacement reserves for roads, park, exterior painting, and snow removal on roadways and driveways. You can find more information about the HOA rules and regulations here. The final floor plan and exterior elevation of the homes can be found here.
Architectural Elevations of Homes at Hopkins Village
Photos of Recent Construction
Buyers must meet the following requirements:
- Household income below 180% of Area Median Income (see table below)
- Work an average of at least 30 hours per week
- Employment site is located within the Tahoe-Truckee Unified School District boundary
Down Payment Assistance Available
The Martis Fund Homebuyer Assistance Program may be available to help qualified buyers secure down payment funds. You can find more information about the program here. Additional questions can be directed to Gina Jones at firstname.lastname@example.org.
If you are interested in purchasing one of these homes in the Hopkins Village development, please fill out the application found here.
Applicants will be considered on a first come first serve basis.
Here's what you will need to apply:
- One month of most recent paystubs for each applicant in household
- 2020 and 2021 tax return for each applicant in household
- Prequalification letter and 1008 form from a lender (Tri Counties Bank is the development's preferred lender. Contact Lori Jayne at LoriJayne@tcbk.com)
- Proof of funds (e.g. banks statements, retirement funds statements, gift letter, etc.)
Homes will be available to qualified applicants who have completed the application on a first-come, first-serve basis. All units began construction in 2021, and the entire project is anticipated to be completed in 2023.
The initial price for the first 8 lots was $577,500. Due to rising construction costs, the remaining lots are priced between $604,369-$615,000 and in no case can any home be sold to an individual for a price greater than $615,000. Additionally, local employers may be eligible to purchase homes within Hopkins Village, provided the occupants are eligible to live in the homes, which will be approved the County prior to occupancy. There are no price restrictions for units sold to local employers, however eligible buyers will be given the priority to purchase units.
Placer County is processing applications on a first come first serve basis. The developer, Daniel Fraiman Construction, will contact the qualified applicants to discuss lot selection and purchase agreements once approved by the County.
Future Sale Requirements
The following requirements apply to the home during ownership:
- During the first five years of ownership, the home can only be sold to another qualified owner who meets the employment and household income requirements.
- After the first five years of ownership, the home can only be sold to another qualified owner who meets the employment requirements.
- Buyers must agree to annual program monitoring with the County.
For more information, see the Deed Restrictions.
The County of Placer will not discriminate against any applicants on the basis of race, color, religion, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, familial status, source of income, physical or mental disability, or genetic information.
The County of Placer makes no representations as to the accuracy of information provided or to modifications made by the developer including but not limited to: floorplans, product type, square footage, product finishes, HOA amenities, product and home warranties or any other feature in the Hopkins Village development.