IRVINE, CA-TRI Pointe Homes Inc. has begun to develop homes on the 892 lots the firm recently purchased in Southern and Northern California and Colorado. The acquisitions, which all closed in the second half of 2013, have significantly expanded TRI Pointe's presence in these high-demand markets.

The company purchased 412 lots in Ontario and Riverside counties; 266 lots in Alameda, Milpitas and Tracy; and 214 lots in Arvada, Castle Rock and Denver.

According to Douglas F. Bauer, the firm's CEO, the acquisitions are part of the company's strategy to control a three-year supply of developed lots in high-demand markets while being disciplined and selective in its home-building activities. “These properties, which demonstrate our approach to buying land in active markets with convenient access to major highways, public transportation and robust employment centers, will allow us to build the kind of innovative housing today's buyers are seeking.”

TRI Pointe has already begun selling new homes at the Riverside location, with sales at the remaining locations expected to begin within three to 12 months.

The new developments are located in:

  • Park Place, a master-planned community in Ontario, CA's New Model Colony. Homes are expected to appeal to entry-level buyers with prices starting in the high $400,000s and to move-up buyers with prices starting in the mid-$500,000s.
  • Parkside, a master-planned community, also in Ontario. Homes for entry-level buyers are anticipated to be priced from the mid-$300,000s.
  • Sycamore Creek, a plan just south of Corona in Riverside County, CA. Homes in the new Kite Ridge neighborhood will target move-up buyers and are expected to be priced from the high $400,000s.
  • Topazridge, a neighborhood TRI Pointe acquired within the Riverwalk Vista master-planned community in Riverside. Move-up buyers are targeted.
  • Alameda Landing, a master-planned waterfront community in Alameda, CA. Prices are anticipated to start in the mid-$900,000s.
  • Tiburon Village in Tracy, CA. Designed to appeal to a mix of entre-level, move-up and move-down buyers, the homes are anticipated to start at the mid-$400,000s.
  • Los Coches in Milpitas, CA. Homes will target both entry-level and move-up buyers, priced from the high-$700,000s.
  • Leyden Rock, a master-planned community in Arvada, CO. Targeted toward entry-level and move-up buyers, homes will start in the mid-to-high-$300,000s and low-to-mid-$400,000s.
  • Terrain, a master-planned community in Castle Rock, CO. Designed to appeal to first-time buyers, prices are anticipated to range from the high $200,000s to the low $300,000.
  • Platt Park North, voted one of the “Great Public Spaces in America” by the American Planning Association in 2012. Prices are anticipated to start in the low-$600,000s.

As GlobeSt.com reported recently, Tom Mitchell, president of TRI Pointe Homes, spoke at the inaugural Meyers Research 2014 Housing Forecast in Newport Beach, CA, in January. The sold-out educational forum and fundraising even raised $40,000 from ticket sales and sponsorships to benefit HomeAid America and provided various perspectives on the challenges and opportunities impacting the homebuilding industry in 2014.

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