Woodside Homes announced this week that it's pumping resources into its land pipeline, landing 262 lots in Central California.
Woodside probably anted up upwards of $20 million for 262 lots in Central California's Tulare market. Net, net the land buy pipelines Woodside growth in a block-and-tackle market through 2015, and creates more visibility for the company's operations and model.
Here's the press statement:
Woodside Homes has acquired 262 lots in the highly desirable Central California location of Tulare, CA, where it plans to open a new residential community in mid 2014. The 262 lots, which make up phases 5 through 8 of the Palm Ranch Subdivision, are located on the desirable east side of Tulare and will serve as a follow-up project to Woodside’s adjacent Villapaseo community.
“We are building homes in communities that need it the most, like Tulare,” said Joel Shine, CEO and Chairman of Woodside Homes. “With years of experience in sourcing, acquiring and developing land, we have been consistently building in core markets like the Tulare, Fresno and Visalia areas.”
Many of the current Villapaseo plans will be updated and offered in the new community, in addition to a second product line that will be offered on the larger lots. Woodside’s Villapaseo community currently offers five floor plans from 2,127 to 3,146 square feet with three to six bedrooms and base prices ranging from $262,000 to $333,000. The community offers spacious homes with single and two-story elevations and feature designer-selected colors and appointments.
The community lies within walking distance of Mission Oak High School and within two miles of the College of the Sequoias, which recently opened the Center for Agriculture Science and Technology.
Well capitalized private home builders like Woodside can pull the trigger on opportunities like this one, counter-punching bigger players who are falling all over themselves for lots in prime, A and B locations.
Learn more about markets featured in this article: Los Angeles, CA.