Taylor Morrison buys last parcels of Calif. planned community

In one of the largest land sales in California in recent years, Taylor Morrison bought almost 16 acres in the Vista Del Verde master-planned project in Yorba Linda, Calif. According to the Orange County Business Journal, final details of the purchase were not disclosed, but land was expected to cost in the area of $2 million per acre.

Taylor Morrison, based out of Scottsdale, Ariz., purchased the property — the last remaining parcels in the community — from Pennsylvania-based Toll Brothers and Aera Energy LLC of Bakersfield, Calif.; the two companies have owned the property and been developing it since 1999.

In total, Vista Del Verde is expected to feature approximately 1,750 homes in its 843 total acres, which was originally an oil field. Besides Toll Brothers and Aera Energy, Irvine, Calif.-based MBK Homes has also been developing in the planned community. In addition to the nearly 2,000 homes, the site will also include a recreation facility; it is already centered on the Black Gold Golf Club.

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