FREMONT, CA—Lennar Corporation is reportedly planning to buy more than 100 acres near the Tesla Motors factory, and the soon-be-open Warm Springs / South Fremont Bart Station.
The San Francisco Business Times reports that Lennar is in escrow to buy property from Union Pacific Railroad. The business media site cited real estate industry sources in reporting the story.
The station is part of BART’s Warm Springs Extension project , which will add 5.4-miles of new tracks from the existing Fremont Station south to the new station in the Warm Springs District of Fremont, with an optional station to be located approximately midway, in the Irvington District.
Lennar’s plans and others that have been previously disclosed, could add thousands of new residents, plus office and R&D space, to what is primarily an industrial area.
These projects conform to the Warm Springs Community Plan, an 880-acre zone the city is targeting for urban-style commercial and residential growth, the Business Times says. Dense development near the BART station is thought to be necessary for developing ridership on the new extension.
Lennar is most well-known as a residential builder, but it also engages in commercial development.
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