Builder: “10-Acre Site in San Dimas Sold to Brandywine Homes”
May. 16, 2017
May 16, 2017
Plans call for 28 single-family detached homes in the San Gabriel Valley.
Saddle Creek 28 Group, LLC a subsidiary of Brandywine Homes, has acquired an approximately 10-acre site entitled for 28 single-family detached lots in San Dimas, Ca. from MJW Investments, LLC. Terms were not disclosed. Land Advisors Organization, a nationwide advisory firm focused on the acquisition and disposition of land and land-related assets, brokered the deal.
Dubbed Saddle Creek, the parcel was assembled by MJW from 5 separate property owners with an entitlement process that took more than 3 years to complete.
“This was one of the more challenging transactions that we’ve completed considering all of the moving parts and the lengthy entitlement process. We are very pleased to have worked with Land Advisors throughout the process and excited to watch Brandywine Homes execute a successful build-out of the project” said Matt Waken, President of MJW.
San Dimas is located in the eastern part of San Gabriel Valley and offers a blend of community amenities, including parks and excellent recreational facilities. San Dimas prides itself on its small town feel, community involvement, and public schools.
“Over the last couple of decades, the City of San Dimas has struggled to meet housing demands. Young families have been leaving the area for new housing opportunities in the San Gabriel Valley and the Inland Empire,” said Tim Barden, senior vice president at Land Advisors. “This project represents a rare opportunity to fill the large demand for new single family housing.”
With over 10 million residents, Los AngelesCounty is the most populous county in California and one of the most lot-restricted, particularly in the San Gabriel Valley. Large-lot infill developments like this are becoming a rarity as developers try to push density on infill sites in an attempt to meet demand. In recent years, small-lot and townhome developments have become the norm, however, the residents and city staff pushed to maintain the single family character of the community and ultimately approved a lower density development.
“As LA County continues to experience economic growth, the demand for housing is significantly increasing. With a lack of available buildable lots, the typical solution is to build high-density housing developments,” said David Kidder, President of Land Advisors. “Opportunities such as Saddle Creek are rare and we are excited to have executed this transaction on behalf of MJW.”
