Ongoing optimism for the new home sales market is translating into more land purchases for land development companies.
In recent weeks, Roseville-based Taylor Builders LLC and Vancouver, British Columbia-based Anthem Properties Group Ltd. bought nearly 50 acres combined in two south Placer County cities.
Taylor Builders President Clifton Taylor said in an email that his company’s purchase of 25.4 acres in Lincoln is for a future single-family home development.
“It’s another structured agreement where we purchased the land and are developing the 198 single-family lots to sell to D.R. Horton in two phases (late 2024 and late 2025),” he said. “Site work will commence in Spring 2024.”
The land, on the southeast corner of Joiner Parkway and Nicolaus Road, is currently undeveloped. Lincoln’s online map of pending development projects does not show a proposal for the property. D.R. Horton Inc. (NYSE: DHI) did not immediately respond to a message left through its website Wednesday.
Records show Taylor Builders, under the name JEN California 24 LLC, bought the land for $12.3 million. The seller, shown in records as Joiner Limited Partnership, has an address in Granite Bay. Representatives of the partnership could not be reached for comment Wednesday.
To the south, Anthem bought a 21.9-acre property on the northeast corner of Whitney Ranch Parkway and West Oaks Boulevard in Rocklin about a week before Taylor Builders’ purchase. The purchase price was $11.05 million.
Anthem did not return inquiries about plans for the land, and the company’s website doesn’t show any active or pending projects in Rocklin. However, the company has mostly developed land for single-family homes in south Placer County, such as the Winding Creek project in Roseville.
The Rocklin Unified School District is listed as the seller. In an email, district spokesman Sundeep Dosanjh said the site at one time was being considered for a new school campus.
“However, after reviewing enrollment projections and convening a Community Surplus Property Advisory Committee in September 2022, the Rocklin Unified School District determined the need for an additional school was no longer necessary now or in the future,” he said.
The district’s board of trustees approved the sale of the surplus property to Anthem Whitney Ranch Homes in May 2023, Dosanjh said.