IHP Capital Partners Pre-Sells 683 Homes in Master-Planned Community
Lennar has agreed to purchase the homesites, which are situated within a 1,275-acre, 820-home development in California’s Santa Clarita Valley.
SANTA CLARITA, CA – IHP Capital Partners has pre-sold 683 homesites within its 1,275-acre, master-planned community, The Highlands at Tesoro del Valle in California’s Santa Clarita Valley.
Homebuilder, Lennar has committed to purchasing the homesites, which include 365 homesites situated in four, age-qualified gate communities, and 318 detached single-family, non-age qualified homesites.
The community’s builder, Newport Pacific Land Co. has been working on The Highlands at Tesoro del Valle project since 2015.
The community will bring a total of 820 new homesites to the market. In addition to the pre-sold 318 single-family homes and 365 age-qualified residences, The Highlands will provide 137 estate homes, which will feature various architectural styles within nine distinct residential villages.
The Highlands will offer private community amenities, including a recreation center with a pool and spa, two tennis courts and seven private parks. The development will additionally offer more than 12 miles of public and private hiking and biking trails.
The community is surrounded by 875 acres of nature as preserved open space for residents of the Santa Clarita Valley.
“It is a spectacular piece of land in an ideal location,” says Jeremy Parness, Lennar’s California coastal division president. “Designed to meet the consistent growth of the Santa Clarity Valley thanks in large part to the temperate climate and diversity of businesses and people. The Highlands at Tesoro del Valle is an ideal opportunity to own a home in a gorgeous setting without sacrificing amenities or convenience. We are excited to announce that construction of homes is anticipated to begin in the second quarter of 2022.”
Through the community, Newport Pacific Land Co. aims to stimulate the local economy and support the existing business community within the area. The development will complete the vision for the current Tesoro del Valle community, which is situated 33 miles north of Los Angeles.
Newport Pacific Land Co. is stewarding the process for the two companies.
“Santa Clarita is an incredibly diverse community that offers an abundance of shopping, recreation, entertainment, healthcare and community services near Los Angeles,” states John Patterson, president of Newport Pacific Land Co. “The Highlands at Tesoro del Valle will be a new chapter in this popular and established area of the Santa Clarita Valley, offering a range of neighborhoods to satisfy the needs of homebuyers seeking a life that balances natural beauty with convenience.”