The park paid $1.5 million for the property, which was sold by Shea Homes. In the past, the park has paid about $6,200 per acre in the same area. This deal worked out to about $2,300 per acre. The agreement completes two decades of acquisitions at Pleasanton Ridge worth $25 million, the most that the park district has ever spent on land in a single area.
The new property, which will be included in the Pleasanton Ridge Regional Park, includes the top of a canyon that was previously earmarked for an 18-hole golf course, a restaurant and 2,100-unit apartment community.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
