EAST DUBLIN, CA-Trumark Homes says it has a deal in place that will allow it to develop a master planned community of eight subdivisions with 805 luxury homes on a 184-acre hilly piece of land here known as Wallis Ranch.
According to a company press release, groundbreaking could begin in May. Homes would be 1,700 to 4,000 square feet. Local media reports indicate that the the deal involves an investment of more than $175 million.
The development will take place as part of a joint venture with Isles Ranch Partners, LLC and Castlelake, L.P., both alternative investment firms. Wallis Ranch, one of the last remaining parcels of fully entitled land in the Bay Area, Trumark says, and it represents the most significant master-plan single-family land transfer over the past year.
"Wallis Ranch symbolizes Trumark's entrance into the master plan development marketplace," said Michael Maples, principal and co-founder of Trumark Companies and related entities. "We want to be a company that creates thoughtful, environmentally sensitive master plans that create community interaction, a sense of place and pockets of interaction with nature."
The community, lies north of Roxbury on Tassajara Road and extends uphill to the Alameda/Contra Costa County line. Grading and other infrastructure work will begin in May, when lots will be offered for sale to homebuilders.
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