HUNTINGDON VALLEY, Pa. (Inman News Features) - Luxury home builder Toll Brothers and California energy producer Aera Energy have agreed to develop 1,035 home sites in Yorba Linda, Calif. The sites are within a master-planned community called Vista Del Verde. The community is located in North Orange County and is built around an 18-hole golf course that opened in November.
The endeavor follows the partnership's joint development of the first phase of Vista Del Verde.
Toll Brothers is building four communities containing 303 luxury homes priced from $600,000 to more than $900,000. Revenues from these home sales are expected to exceed $250 million, according to the company.
The partnership has sold 442 home sites to other major builders.
"We now have California communities either open or under development in Alameda, Contra Costa, Orange, Riverside, San Diego and Ventura Counties," said Toll Bros. CEO Robert I. Toll. "Including our lots at Vista Del Verde, we own or control sites for approximately 4,400 units in California, which is a strong platform for future expansion."