Morningstar News: “Brandywine to Build 17 Townhomes in Arcadia, California”
Jan. 20, 2015
Development Brings More Affordable Housing Options to In-Demand Area Close to Excellent Schools, Shopping and Recreation
ARCADIA, CA-(Jan 20, 2015) –Brandywine Homes has closed on a 0.82-acre site at 136 Las Tunas Drive in Arcadia and plans to build 17 three-story contemporary townhomes in an area desperate for more housing. Groundbreaking for the community, called Griffin, is planned for April 2015, and construction is expected to be complete in December 2015.
“The increased demand for housing in Arcadia has pushed pricing for single-family detached homes into ranges many people cannot afford,” said Dave Barisic, vice president of sales and marketing for Brandywine. “These townhomes will certainly be more affordable than the majority of what is on the market now.”
Brandywine plans to build 17 three-story two-, three- and four-bedroom townhomes ranging in size from 1,265 to 2,205 square feet. Most townhomes will have full side-by-side garages, and all will have contemporary architecture, stainless steel appliances and solid-surface counters.
Residents of the new community, located between El Monte Avenue and South Santa Anita Avenue, will have access to Arcadia’s excellent schools and will be 3.3 miles away from the 210 Freeway, making commuting easy. Griffin is close to Santa Anita Park, Westfield Santa Anta shopping center, the Santa Anita Golf Course and downtown Pasadena.
Prices for the townhomes are expected to range from the high $600,000s to the high $900,000s.
According to the National Association of Home Builders’ formula to determine the local impact of single-family housing in typical metro areas, adding 17 single-family homes will generate $3.6 million in local income, $374,000 in taxes and other revenue for local governments and 55 local jobs.
About Brandywine Homes
Brandywine Homes is a residential homebuilder based in Irvine, Calif., that specializes in challenging infill development. Founded in 1994, the family-owned and operated company has built or developed almost 1,500 homes in 45 small- and mid-sized infill communities, revitalizing some of Southern California’s oldest and most established neighborhoods. Brandywine builds homes that respect and complement the heritage, values and architectural integrity of existing neighborhoods and the people who live there — making a positive contribution to the community. www.brandywine-homes.com. Social media: Facebook, Twitter, LinkedIn and Brandywine Blog.
