Trumark Communities' ambitious Wallis Ranch development in Dublin, Calif., expects its first sales to close this week, with total home sales projected to hit $1 billion, reports Roland Li of the San Francisco Business Times.
The 806-unit project transforms a 184-acre site with new infrastructure and a mix of town homes and single-family detached buildings, ranging from two to six bedrooms.
Trumark Communities, along with investment partners Isles Ranch Partners LLC and Castlelake LP, have divided the site into eight neighborhoods and sold seven of the sections to different home builders. Homes range from 1,900 square feet to 4,300 square feet, while prices range from the high $700,000s to $1.5 million, said Peter Kiesecker, chief operating officer of Trumark Communities.
Trumark Communities is building one of the project's eight neighborhoods. Other home builders include Warmington Residential, PulteGroup Inc. (NYSE: PHM), Taylor Morrison Home Corp. (NYSE: TMHC), KB Home (NYSE: KBH) and D.R. Horton, Inc. (NYSE: DHI), along with its Emerald Homes division.