TRI Pointe Homes closes escrow on 232 residential units, one of the largest land transactions this year for a for-sale housing project.
July 2, 2018
Tri Pointe Homes, Inc. (NYSE:TPH) acquires 232 residential units within a new urban master plan community in Anaheim, California. Apart from transactions made on large-scale master plan communities in Orange County, this transaction is the largest land transaction for a for-sale housing project this year.
South Street at the Packing District will be a new 20.47-acre urban master plan programmed for 232 for-sale residential units and 314 apartments. The 232 for-sale homes will consist of single-family detached clusters, three-story interlocking townhomes, and three-story row townhomes.
South Street at the Packing District is positioned at the confluence of increasing market demand for urban walkability, income-appropriate pricing, and housing in proximity to employment, services, and shopping. The community is within walking distance of Anaheim’s most popular eateries, bars, breweries, and wine labs. Homebuyers will enjoy the worldly flavors of the Anaheim Packing District, as well as the abundance of one-of-a-kind shops lining CtrCity at Downtown Anaheim.
Unlike other suburban communities of Orange County, South Street will combine the conveniences of living in an urban downtown with the amenities and living space of the suburbs.
“Some of the floor plans will be affordably priced and should fall under current Federal Housing Administration loan limits for the area. The Property’s size and infill location will broaden its appeal and create a sense of place that drives value for homebuyers through buildout.”