Landsea Homes Acquires 182 Waterfront Homesites In Alameda, California
Landsea Homes Corporation (Nasdaq: LSEA) announced the acquisition of 182 homesites in Alameda Marina, California, part of a mixed-use redevelopment. This project will include two neighborhoods: Island View with 98 homes and Waterside with 84 homes, featuring various floor plans and waterfront views. Sales are set to start in summer 2022, with 15% of homes designated for affordable housing. The initiative aligns with the City of Alameda's plans to revitalize its Northern Waterfront to enhance the community and support sustainable living.
- Acquisition of 182 desirable waterfront homesites enhances Landsea's portfolio.
- 15% of homes will be part of affordable housing initiatives, appealing to a broader market.
- Alignment with the City of Alameda's revitalization efforts promotes community development.
- Potential for increased revenue from diverse floor plans and modern home designs.
- Heavy reliance on the market's acceptance of new developments in a competitive area.
- Potential delays in construction and sales due to regulatory or logistical challenges.
ALAMEDA, Calif., May 10, 2021 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, announced today the acquisition of 182 homesites at the Alameda Marina master-planned community in Alameda, California that will celebrate the regions historic Marina Waterfront.
"Landsea Homes is thrilled to be a part of Alameda Marina's renovation that will merge the regions maritime history with mixed-use and a residential district," said Josh Santos, Northern California Division President, Landsea Homes. "It's a new way to look at island life and we are excited to create homes to spotlight everything the area has to offer, along with bringing our modern and quality high performance homes to a new city in the Bay Area for us."
Landsea Homes will offer a total of 182 townhomes for sale in two different neighborhoods.
The first neighborhood, called Island View, includes 98 homes with seven different floor plans ranging from 1,462 square feet to 2,386 square feet. Each home will feature an outdoor porch and deck, and select floor plans will offer private roof top deck space with expansive views of the marina.
Waterside, the second neighborhood, will include 84 homes with four floor plans ranging from 2,138 square feet to 2,689 square feet. This collection will offer four bedrooms and three-and-a-half to four bathrooms. Each home in this neighborhood will boast a private roof top deck space with a waterfront view.
For more than a decade, the City of Alameda has developed a series of aligned planning initiatives to redevelop the Northern Waterfront and to transform it from industrial uses into a mixed-use and residential district. The city specifically designated the Alameda Marina for mixed-use redevelopment, as well as multifamily housing.
Sales are expected to begin for Landsea Homes' "island" inspired homes in summer 2022. Soon residents will have access to bike trails, walking paths, paddleboat opportunities, waterfront dining and outdoor activities.
Additionally, 15 percent of the homes created by Landsea Homes will be offered under the county of Alameda's affordable housing program.
Alameda is located about 12 miles from Oakland, 18 miles to San Francisco and boasts a robust park system, shopping, restaurants, outdoor recreation, and spectacular views of its neighboring cities along with its Marina Waterfront for an island life experience for residents.
For more information about Landsea Homes' Northern California communities, visit www.landseahomes.com.
About Landsea Homes Corporation
Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Newport Beach, CA that designs and builds best-in-class homes and sustainable master-planned communities in some of the nation's most desirable markets. The company has developed homes and communities in New York, Boston, New Jersey, Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.
An award-winning homebuilder that builds suburban, single-family detached and attached homes, mid-and high-rise properties, and master-planned communities, Landsea Homes is known for creating inspired places that reflect modern living and provides homebuyers the opportunity to "Live in Your Element." Our homes allow people to live where they want to live, how they want to live – in a home created especially for them.
Driven by a pioneering commitment to sustainability, Landsea Homes' High Performance collection features homes that are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes in this collection include features that make life easier and provide energy savings that allow for more comfortable living at a lower cost through sustainability features that contribute to healthier living for both homeowners and the planet.
Our Garrett-Walker collection offers unique, affordably priced and value-based single-family homes in some of the nation's fastest growing and most desirable markets. Homebuyers enjoy the confidence of owning a quality home that provides lasting value. One of the most trusted brands in the region, this collection continues to attract everyone from first-time homeowners to those seeking more room for their growing families.
Led by a veteran team of industry professionals who boast years of worldwide experience and deep local expertise, Landsea Homes is committed to positively enhancing the lives of our homebuyers, employees and stakeholders by creating an unparalleled lifestyle experience that is unmatched.
For more information on Landsea Homes, visit: www.landseahomes.com.
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SOURCE Landsea Homes
FAQ
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