LANDSEA HOMES CLOSES ON 44 HOMESITES FOR A NEW COMMUNITY IN ANAHEIM, CA

Rhea-AI Summary

Landsea Homes Corp. (Nasdaq: LSEA) announced the acquisition of 44 homesites for a new community named Mason in Anaheim, CA, marking an expansion in Orange County. The community will feature three-story townhomes with four different floorplans, ranging from 772 to 2,007 square feet. Each home will be equipped with smart home automation technology supported by Apple HomeKit. Amenities include a neighborhood park and REME HALO® air purifiers to enhance indoor air quality. Sales are expected to begin later in the year. This acquisition follows a recent purchase of 500 homesites in Dublin, CA for a new master-planned community.

Positive

• Acquisition of 44 homesites in Anaheim, CA, a sought-after housing market.
• Homes feature advanced smart home technology supported by Apple HomeKit.
• Amenities include a neighborhood park and REME HALO® air purifiers.
• Sales are anticipated to start later this year, indicating a swift development process.
• Recent acquisition of 500 homesites in Dublin, CA, showing expansion.

Negative

• Potential risk of oversupply in a saturated market with high competition.
• High development costs associated with smart home features may impact profitability.
• Dependence on future sales which may be impacted by economic downturns.

• Mason will feature 44 High Performance townhomes in one of Orange County's most desirable and populous cities
• Acquisition bolsters Landsea Homes' presence in one of the nation's most sought-after housing markets

ANAHEIM, Calif., June 3, 2024 /PRNewswire/ -- Landsea Homes Corporation (Nasdaq: LSEA) ("Landsea Homes" or the "Company"), a publicly traded residential homebuilder, announced today it has closed on 44 homesites for a new community called Mason in Anaheim, California. Land development has already begun, and sales are anticipated to start later this year. 

"We are excited to grow our presence in Orange County with the addition of Mason to our new home community portfolio," said Tom Baine, California Division President, Landsea Homes. "Nolin, another Anaheim community of ours across the street from Mason, sold out less than two years after opening for sale and experienced unprecedented demand. We anticipate interest for Mason to be just as strong and look forward to meeting the demands of local homebuyers with these new high-quality, High Performance Homes."

On the corner of Lincoln Avenue and Laxore Street, Mason will include three-story townhomes with four different floorplans ranging from 772 square feet to 2,007 square feet and options for two to four bedrooms. Residents will enjoy common area amenities, including a neighborhood park with bar counter, picnic tables and a lounge area. 

All homes at Mason will be equipped with Landsea Homes' High Performance Home features, including smart home automation technology utilized by the Apple HomeKit™ environment. The smart home automation features include an Apple HomePod mini, wireless network Internet throughout the home, entry door locks, thermostat control, garage door opener control, light dimmer switches, a doorbell camera, and smart home activation via Best Buy's Geek Squad.

REME HALO^® air purifiers will be incorporated into all homes. This state-of-the-art product mitigates indoor contaminants to keep residents safe and support healthy living by reducing airborne particles such as dust, dander, pollen and mold spores, killing up to 99% of bacteria, mold and viruses. 

Buyers will also be able to take advantage of Landsea Homes' LiveFlex™ program, which presents the opportunity to transform spaces into whatever a homebuyer's lifestyle may need, whether that's a home office, an at-home learning space, a guest bedroom or a place to exercise. 

Anaheim is the largest city in Orange County, known for being the home of the Disneyland Resort, the Anaheim Convention Center, and two major sports teams: the Anaheim Ducks professional ice hockey club and the Los Angeles Angels of Anaheim professional baseball team. The city is the largest industrial district in Orange County and home to more than 2,600 businesses, including notable corporations like AT&T, Hewlett Packard and Panasonic, among others. 

"From amazing recreation and tourist attractions to a wealth of shopping and dining options, Anaheim is a great city to live in Orange County. Our new homes at Mason will provide the perfect blend of high-quality, modern living at an attainable price point for the area," added Baine. 

Last month, Landsea Homes closed on 500 homesites for a new master-planned community called The DC (Dublin Centre) in Dublin, California. The community is slated to begin development this month with sales anticipated to start in late 2025.

Landsea Homes' other Southern California communities currently selling include Hudson in Placentia, Eave in Ontario, Narra Hills in Fontana, and coming soon, Peri and Rubi in Ontario.

For more information on Landsea Homes, visit: www.landseahomes.com. 

About Landsea Homes Corporation

Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Dallas, Texas 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, Colorado, Florida, Texas and throughout California in Silicon Valley, Los Angeles, and Orange County. Landsea Homes was honored as the Green Home Builder 2023 Builder of the Year, after being named the 2022 winner of the prestigious Builder of the Year award, presented by BUILDER magazine, in recognition of a historical year of transformation. 

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 Homes are responsibly designed to take advantage of the latest innovations with home automation technology supported by Apple®. Homes 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.  

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

What is the new community Landsea Homes is developing in Anaheim, CA?

Landsea Homes is developing a new community named Mason in Anaheim, CA, featuring 44 high-performance townhomes.

What are the features of the homes in Mason, Anaheim?

The homes in Mason will include smart home automation by Apple HomeKit, REME HALO® air purifiers, and amenities like a park with bar counter and picnic tables.

When will sales begin for the Mason community in Anaheim?

Sales for the Mason community are expected to start later this year.

What is the size range of the townhomes in the Mason community?

The townhomes in the Mason community range from 772 to 2,007 square feet.

What other recent acquisitions has Landsea Homes made?

Landsea Homes recently acquired 500 homesites in Dublin, CA for a new master-planned community named The DC.