The homebuilder has also entered into a long-term agreement to acquire the remainder of the lots at the community located 30 minutes east of the Bay Area
TRACY, CALIF. (January 27, 2021) – Integral Communities has announced that Lennar, one of the nation’s leading homebuilders, has purchased 778 lots in and adjacent to Tracy Hills, a 1,850-acre resort-style master-planned community (MPC) located 30 minutes east of the Bay Area in the rolling foothills of San Joaquin County. The homebuilder acquired 432 lots in Phase 1B of the community, 132 remaining duet lots in Phase 1A, and 214 lots for a single-family community adjacent to Tracy Hills. In addition, Lennar has entered into a long-term, joint-venture agreement for the acquisition of the remaining portions of Tracy Hills MPC.
“We are thrilled about the high demand at Tracy Hills, and these major commitments by such a great partner as Lennar not only confirm our current view, but go a long way to ensuring a bright and high-performance future for this special place,” said John Stanek, principal at Integral Communities. “This joint venture with Lennar will provide for the development and acquisition of the remaining approximately 3,500 homesites in Tracy Hills over the next several years.”
Lennar’s 432-lot purchase in Phase 1B of Tracy Hills will add to its 747 single-family homes currently being built across five neighborhoods. With start of construction scheduled for Spring 2021, Lennar will offer a wide array of home sizes and styles as Tracy Hills attracts a diverse range of buyers, including current renters and first-time buyers, young families, middle-aged families and pre-retirement buyers looking for more affordable options and to be close to their children and grandchildren.
Lennar’s 132-homesites will feature new attached duet homes at Amethyst at Tracy Hills, the ninth and final neighborhood in Phase 1A. Lastly, Hillview, located on Corral Hollow Road directly adjacent to the entrance to Tracy Hills, will yield 214 single-family detached homes. Both the Amethyst and Hillview neighborhoods will feature smaller lots with more attainably priced homes.
Offering resort-style living and panoramic hillside views, Tracy Hills boasts numerous parks and outdoor recreation areas and walking, hiking and biking trails. It also features 337 acres of greenways and developed open space, with an additional 3,535 acres of conservation land along the perimeter of the community. Amenities include The Residents’ Club, a lap and lounge pool, an outdoor gathering area with an open lawn and adjacent game area, and The Market, a grab-and-go grocery store. Located just minutes from the city of Tracy’s dynamic downtown, Tracy Hills will also have three new K-8 elementary schools, retail and office space, and a new fire station.
Opened in 2019, Lennar’s first five villages at Tracy Hills are Amber, Larimar, Opal, Pearl and Topaz. Along with Lennar, Phase one builders actively selling at Tracy Hills include Shea and Meritage Homes. Meritage Homes’ village Vantage at Tracy Hills includes 182 single-level and two-story homes ranging from 1,729 to 2,648 square feet. Shea Homes’ first village, Vente at Tracy Hills, recently sold out and the builder is now selling at Elan at Tracy Hills, the second for Shea and the eighth overall at Tracy Hills that includes 70 single-level and two-story homes ranging from 2,851 to 4,026 square feet.
For more information, please visit www.tracyhillslife.com.
About Integral Communities
Integral Communities is a privately held diversified real estate investment company led by veteran principals with long distinguished backgrounds in the real estate business going back more than 50 years. With a focus on innovative strategy, creative design, and proven expertise, Integral works for the betterment of the communities in which they work by creating new opportunities from underutilized or undeveloped parcels of land through value-added land planning. They have successfully re-entitled, re-positioned, and value engineered a wide and varied array of large-scale development projects. Their portfolio includes a myriad of apartment communities, mixed-use developments, and master-planned communities throughout California. Integral is headquartered in Newport Beach, California, with regional offices in Encinitas, California and Danville, California. www.integralcommunities.com.
Lennar Corporation, founded in 1954, is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar’s Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar’s homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar’s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar’s technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.