IHP Capital Partners announced it has pre-sold 683 of the homesites within its 1,275-acre master-planned community of The Highlands at Tesoro del Valle to Lennar.
Lennar, one of the nation’s leading homebuilders, has committed to purchasing 365 homesites in four age-qualified gated communities, as well as an additional 318 detached single-family non-age-qualified homesites, according to a news release.
The community’s builder, Newport Pacific Land Co., is set to steward the process for The Highlands community.
Newport Pacific Land Co. has been working on the project since 2015 and has now realized the opportunity to bring approximately 820 new homes to the region, which is experiencing the painful pinch of demand outweighing supply, per the release.
“Santa Clarita is an incredibly diverse community that offers an abundance of shopping, recreation, entertainment, health care and community services near Los Angeles,” John Patterson, president of Newport Pacific Land Co., said in a prepared statement. “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.”
In addition to the 318 single-family homes and 365 age-qualified residences, The Highlands is set to include 137 estate homes on spacious homesites, offering a variety of architectural styles within nine distinct residential villages.
Private community amenities, such as a recreation center with pool and spa, two tennis courts, seven private parks and more than 12 miles of public and private trails, are set to also be included in the community, all surrounded by approximately 875 acres of open space.
“It is a spectacular piece of land in an ideal location,” Jeremy Parness, Cal Coastal Division president for Lennar, added in the statement. “Designed to meet the consistent growth of the Santa Clarita 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.”
Construction of homes is projected to begin in the second quarter of 2022.