DUBLIN, CA—As has been widely reported, the cost of living in California is much higher than most other states, yet the housing demand continues to grow. Millennials driven by tech wealth are attracted to the changing landscape of home design trends and amenities.

Trumark Companies co-founder, Gregg Nelson, recently discussed market predictions of how the housing market is likely to respond to the demand amid California's struggle to keep up in this EXCLUSIVE. Nelson tells GlobeSt.com: “The millennial generation has delayed lifestyle decisions but this has resulted in pent-up demand.”

This has Trumark devising a strategy for moving beyond primary markets to seize opportunities, with projects close to transit and amenities. The Trumark project at 6582 Tassajara Rd., Wallis Ranch, is pegged to partially fulfill those needs. Upon full buildout, Wallis Ranch will deliver 806 new homes within eight neighborhoods to a region that has recorded a significant boost in housing demand as a result of the thriving employment market less than 40 miles away.

Nelson tells GlobeSt.com: “We have a new and fresh design for this type of suburban development. For example, we plan to devote a portion of the clubhouse to workspace for those workers who want to work from home yet have a communal experience.”

The 184-acre Wallis Ranch master planned development includes eight distinct neighborhoods featuring single-family detached homes, townhomes and executive homes ranging from 1,700 to 4,100 square feet. Master planner Trumark Communities has dedicated more than half of the master plan's acreage to green space, including parks, open space and a water-quality basin to create a tranquil environment that appeals to Bay Area residents' active lifestyles. Wallis Ranch will also include a three-acre common area featuring an edible garden, fitness center, pool, spa and barbecue area surrounded by a mile of trail systems. As drought concerns are always top of mind, drought-tolerant landscaping will be included, with entirely reclaimed water used throughout the community.

Nelson tells GlobeSt.com: “The development will have a Napa-like feel with walking trails, a creek, a firepit and bocce ball court, all within a gated community along with walkability to Peet's and BART. We are looking to create experiences that impact the living environment and finding ways to create a sense of place.”

The master planned community was acquired by Trumark Communities in 2014 through a partnership with Isles Ranch Partners LLC and Castlelake LP, and sales are slated to begin in in the second quarter of 2016. Wallis Ranch will consist of eight neighborhoods by seven builders: Riverton by KB Home, Fielding by Trumark Homes, Trestle and Driftsong by Warmington Residential, Citron by Pulte Homes, Barnwell by D.R. Horton, Bridgecroft by Emerald Homes and Ivy Oak by Taylor Morrison.

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Pent-Up Demand Creates Buyer Opportunities

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