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2015

Toll Brothers acquires a 250-unit community across from state-of-the-art Lake Forest Sports Park in Lake Forest, California.

By August 7, 2015May 26th, 2021No Comments
News Release

Toll Brothers acquires a 250-unit community across from state-of-the-art Lake Forest Sports Park in Lake Forest, California.

August 7, 2015
Irvine, CA
Toll Brothers, Inc. (NYSE:TOL) has acquired Parkside at Baker Ranch, a 25.88-acre community planned for up to 250 single-family homes within Lake Forest, California. 
Planned as a gated community, Parkside at Baker Ranch is designed to allow for the delivery of complementary housing product ranging in size from approximately 1,900 to 2,800 square feet within three distinct neighborhoods.
While countless entertainment alternatives exist within minutes of the community, residents will enjoy a short walk across Rancho Parkway to the entry of the City of Lake Forest’s newly completed 86-acre sports park and all of its associated amenities. The community is also anticipated to include a neighborhood recreational facility on approximately 0.5-acres that could accommodate a small community meeting room and a pool exclusively reserved for residents’ usage.
The transaction site’s history is compelling. Over the years, parcels were sold by the Baker and West families and eventually developed into what is now known as the City of Lake Forest. In 1999, Baker Ranch was placed into a joint venture with Shea Properties to develop the property into a commercial business park. However, upon the closure of El Toro Marine Air Base, the process was initiated to convert the property into a master-planned residential community. In 2012, the Baker Family, sold its interest in a 2,379 unit master plan community nearby called Baker Ranch to Toll Brothers. That community, which resides along Alton Parkway, successfully introduced six new neighborhoods to the market in early 2014. 
Parkside at Baker Ranch is located at the northwest corner of Rancho and Portola Parkways, adjacent to the Foothill Transportation Corridor (241 Toll Road) freeway off-ramp, within the City of Lake Forest, California. The site is approximately 12 miles from John Wayne Airport and less than five miles from both the Orange County Great Park and the Irvine Spectrum. The site will share a signalized intersection with the entry to the City’s Sports Park immediately to the south. Parkside at Baker Ranch is ideally positioned to capitalize on the increasing demand for housing in proximity to employment, schools, services, and shopping. 

“We anticipate Parkside at Baker Ranch will be perceived as an affordable alternative relative to the master plan residential villages within the City of Irvine and even within the newly-introduced Baker Ranch neighborhoods.”

Marc Kleiman
Principal, Province West