D.R. Horton affiliate buys $12.29 million in Natomas lots
March 1, 2019
A land development group affiliated with homebuilder D.R. Horton Inc. has bought $12.29 million worth of home lots in Sacramento’s South Natomas area.
Dallas-based Forestar USA Real Estate Group Inc. bought the lots in recent weeks in the ParkeBridge development area southeast of where Interstates 5 and 80 meet, according to property records. Jen CA 7 LLC, which is affiliated with residential land sales group Jen Partners, is listed as the seller.
Neither the buyer, which is an affiliate of D.R. Horton (NYSE: DHI), nor the seller returned messages seeking comment Friday.
D.R. Horton’s website shows a project called Terraza at ParkeBridge as coming soon, though no prices or size ranges are given. Model homes for the development appear to already be under construction and are visible from I-80.
Parcel numbers associated with the transaction show Forestar bought at least 72 acres in the deal, though it is not clear how many actual homesites that would allow.
First proposed over a decade ago, ParkeBridge would be a residential development of 530 housing units, with 388 single-family homes and the balance condominiums. The total project size is about 90.5 acres, with an address of 3800 Fong Ranch Road. In 2015, the city approved the project, which was delayed because of the overall collapse in home construction and a seven-year moratorium on construction in Natomas because of flooding concerns.
More than a year ago, residential development company Taylor Builders LLC bought land for 530 future homes in the same area, for $12 million.
Source: Sacramento Business Journal
Lot sales in Lincoln, South Natomas could bring construction of more than 700 homes
January 16, 2019
Land sales for hundreds of new homes will lead to construction on two different projects later this year.
KB Home recently purchased lots in the Twelve Bridges master plan in Lincoln for $16.44 million, and Taylor Builders LLC bought lots for a planned project called Parkebridge in South Natomas for $12 million, according to property records.
Joe Killinger, Central California division president with KB Home, said the Lincoln lots will be the site of 240 single-family homes. Beginning lot improvements should get underway this summer, with sales beginning in spring 2019.
“Twelve Bridges is a good destination neighborhood for first-time and move-up buyers,” Killinger said. “For us, we see an opportunity to build something a little more affordable than what’s in the Rocklin or Roseville area.” For buyers in Lincoln, the difference could be as much as $20,000 to $30,000 less than a similar house in those cities, he said. The Lincoln community, purchased from JCPSac Properties LP, will have one- and two-story homes, ranging from about 1,700 to 3,100 square feet.
KB Home has five new communities starting in the next three to four months, Killinger said. While the pace of homebuilding overall is increasing, it’s still far from the peaks of 2006, he said, with entitlement review and labor shortages the major limiting factors.
Taylor Builders, a newly formed residential development company based in Roseville, bought the Parkebridge lots from BHT II Parkebridge 531 LLC.
President Clifton Taylor, who started the company last year after leaving residential developer Richland Communities, said the lots are enough for about 530 homes. Taylor Builders will start site improvements this spring for the land, which is south of Interstate 80 and between Truxel Road and Northgate Boulevard.
“The goal is to finish lot development and sell to builders,” Taylor said, adding the land is entitled for a combination of single-family homes and townhomes. “We’re working on finalizing an agreement with a general contractor.”
Both sales closed within the last month.
Source: Sacramento Business Journal
This Lake Tahoe Community Was Designed with Outdoor Enthusiasts In Mind
Five completed Boulders Residences are currently available at Mountainside at Northstar.
December 25, 2018
Located in the quaint town of Truckee in Northern California near the Ritz-Carlton, Lake Tahoe, Boulders Residences are the latest addition to the outdoor community of Mountainside at Northstar. Five properties are now available for move-in, with the remaining 14 set to be built in spring 2019.
Encircled by granite boulders, these year-round vacation homes residences offer panoramic views of the Martis Valley. Ranging from 2,781 to 3,278 square feet, each three- to four-bedroom residence has expansive glass windows and doors that overlook the treetops and boulders. Three distinct floorplans are available, with prices starting at $2.2 million.
The Chutes floorplan features walnut interior doors and European white oak wide-plank floors that seamlessly mirror the natural hues awaiting outside. The Skiways model boasts 1,614 square feet of outdoor living space, including a hot tub and fire pit made for entertaining. As the largest of the layouts, the Vistas floorplan is comprised of four bedrooms and four-and-a half baths. Mosaic glass shower walls mix with rich accents and wooden furnishings, effortlessly pairing rustic elements with refined details.
Residents will have access to all of Mountainside’s amenities including the Tree House, which features a clubhouse, pool, game room, lounge, and sport court. For some much-needed solitude, residents can practice yoga in a studio built into a rock enclave with floor-to-ceiling windows and foldaway doors that open to a southern-facing deck overlooking the surrounding granite boulders. Forty miles of hiking and biking trails make for endless relaxation and serenity amidst North Lake Tahoe’s beautiful landscape. Residents can also go snow tubing on the mountain or explore the waterfalls at Shirley Canyon. “It’s a modern spin on mountain elegance that serves as a gateway to a world of healthy, outdoor experiences,” says Clifton Taylor of Mountainside Builders.
If you prefer a standalone Lake Tahoe estate, consider this $75 million stunner, which comes with a main house, guesthouse, beach house, and glass funiculars that lead to the water’s edge.
Roseville firm acquires 945 entitled acres near Tahoe
August 21st, 2018
Homebuilding firm Taylor Builders LLC has acquired the 945-acre holdings of Mountainside Partners, including six separate development projects.
Roseville-based Taylor Builders acquired the property near the Northstar ski resort for an undisclosed price under the subsidiary company Mountainside Builders LLC.
Clifton Taylor, Taylor Builders’ president, said he’s familiar with Placer County from projects he’d done in a previous role with Richland Communities. But luxury resort housing planned around Northstar and near Lake Tahoe is different from the single-family communities Richland developed in south Placer County, he added.
“This is a tremendous, iconic group of assets with top-level appeal,” Taylor said.
The purchase includes Martis Valley West, the largely residential project along Highway 267 north of Lake Tahoe that’s the subject of ongoing litigation over environmental concerns. The portfolio also includes Mountainside at Northstar, a project of three residential communities already under development and partially sold. The Mountainside portfolio largely consists of residential projects.
“I don’t think it’s anything we can’t handle,” said Taylor, whose firm is also building a single-family home community in south Natomas southeast of where Interstates 5 and 80 meet.
Taylor said he also recognized ongoing concerns about projects under Mountainside Partners. But he said his own expertise, including a degree in environmental studies and previous time as a planner, would help him work through those issues.
“You just approach it with genuineness and taking each stakeholder very seriously,” he said. “I’m excited about the challenges that will emerge.”
He said introducing his company and his background to stakeholders will be the first job, followed by looking at which projects to get off the ground. Taylor said he has some ideas about the latter point, but not enough to confirm the direction yet.
Tahoe Mountain Realty will handle all aspects of sales and marketing for Mountainside at Northstar.
he announcement of Taylor Builders’ move comes after Blake Riva, Mountainside Partners’ managing partner, left to join Reno-based Basin Street Properties as president earlier this month.
Source: Sacramento Business Journal