Lennar Homes acquires 196-near-finished lots with 75% of home plans qualifying for FHA financing in Palm Desert, California.
December 23, 2020
Lennar Homes of California (NYSE: LEN) closes escrow on Axis @ University Park, a 196-lot community with three distinct product programs within the University Park master plan community in Palm Desert, California.
Located in the heart of the Coachella Valley, University Park consists of residential, commercial, and retail developments and serves as the gateway to the City of Palm Desert. As currently contemplated, at build-out, University Park will feature 1,265 residential dwelling units across 188.38 acres.
With its central location within Palm Desert and the University Park master plan itself, Axis will appeal to a broad range of homebuyers seeking an optimal regional location coupled with walkability to jobs, restaurants, and retail. Thoughtfully curated master amenity programming at University Park will provide comprehensive active and passive open space areas as well as a park and trail network suitable for a diverse cadre of users. Existing master plan amenities include the University Park East and University Dog Park, which sit directly adjacent to Axis flanking the east and west side of the project, respectively.
“Axis @ University Park’s product mix allows for three concurrent vertical executions. Further, with just over 75% of the Projects’ plans qualifying for FHA financing, the Project will provide a winning combination of lifestyle and attainability.”