SAN RAMON, Calif., Dec. 05, 2019 (GLOBE NEWSWIRE) -- TRI Pointe Homes has announced the acquisition of 240 homesites to build new homes in two for-sale communities across the Bay Area. The land transactions fit TRI Pointe Homes’ strategy of building quality innovative homes in locations with convenient access to major transportation and employment corridors.
“With the high demand and low supply of housing in San Francisco, a lot of people are looking for new opportunity beyond the bay,” said Jeff Frankel, president of TRI Pointe Homes Bay Area. “Our new communities in Sonoma and San Joaquin Counties will cater to that movement while providing a fresh blend of individuality, authenticity and integrity to our homeowners.”
TRI Pointe Homes acquired 134 homesites within Riverfront, a master-planned community located in downtown Petaluma. TRI Pointe Homes’ new neighborhood will offer homes ranging from 1,700 to nearly 2,800 square feet with four to five bedrooms and customizable floor plans. Located 40 miles north of San Francisco, the community is situated within a vibrant downtown employment, shopping and entertainment area and just a short drive from Wine Country. Targeting singles, families, multi-generational households and empty nesters, homes are anticipated to be priced from the low $700,000s with sales slated to begin in spring 2020.
The second acquisition was 106 homesites within River Islands, a master-planned community located in Lathrop. The new Breakwater neighborhood offering of single-family homes will range from 2,130 to nearly 2,840 square feet with four different, customizable floor plans, three to five bedrooms, 2.5 to 3.5 bathrooms and a two-car garage. The established masterplan includes a boat house club facility with bar and restaurant, two K-8 schools, 11 community parks and 12 lakes, trails, and sports fields. The neighborhood offers access to Bay Area employment centers and light rail connection to San Jose. Priced from the high $400,000s and targeting young families, multi-generational households and empty nesters, sales of the homes at Breakwater in River Islands are slated to begin in spring 2020.
“All located within quality master-planned communities around the Bay Area, these new TRI Pointe Homes neighborhoods will deliver life-inspiring homes with lifestyle-enriching amenities,” Frankel said. “This is a very exciting opportunity for TRI Pointe to continue to provide our customers outstanding quality and convenience at attainable price points.”
About TRI Pointe Homes® Bay Area
Based in San Ramon, California, TRI Pointe Homes Bay Area designs, constructs, and sells single-family homes and condominiums. Founded on more than a century of real estate industry experience, the company focuses on building quality, master-planned and urban infill communities throughout Northern California. Committed to insightful design and superior craftsmanship, the company is setting a new standard in homebuilding and customer experience. TRI Pointe Homes Bay Area was named one of the 2018 and 2019 Bay Area Best Places to Work by the San Francisco Business Times and the Silicon Valley Business Journal and was honored with five 2018 Eliant Homebuyers’ Choice Awards including a No.1 ranking from surveyed homebuyers for First Year Customer Service Experience in 2016, 2017, and 2018. TRI Pointe Homes was also recognized as 2016 Builder of the Year by Builder and Developer magazine. TRI Pointe Homes is a member of TRI Pointe Group®, a family of premium regional homebuilders. For more information about TRI Pointe Homes Bay Area, please visit www.TriPointeHomes.com/Northern-California.
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/1b0f6c4b-19e0-4e01-b3a7-2b97318a45ae