TRI Pointe Homes (NYSE:TPH) announced April 30th it has acquired 76 lots
in the new-urban masterplanned community of Bay Meadows in San Mateo,
Calif. The lots, TRI Pointe's second acquisition within the masterplan,
will feature 76 townhomes ranging from 1,200 to 2,100 square feet priced
in the high $900,000s. Named Canterbury, the new neighborhood is slated
to open in the first half of 2014.
"This acquisition continues to build our Bay Area operation around the
very strong employment base within and surrounding Silicon Valley," said
Douglas F. Bauer, TRI Pointe CEO. "It fits perfectly with our model of
building where people need and want to live, near major employment and
The lots, acquired from Stockbridge Capital and developer Wilson Meany,
are located in one of the largest developable areas in the San
Francisco-Silicon Valley corridor on the site of a former airfield and
Bay Meadows racetrack. Bay Meadows (http://baymeadows.com/)
is a comprehensively sustainable, transportation-centered pedestrian
village located midway between San Francisco and Silicon Valley designed
with state-of-the-art buildings set in a new walkable urbanist
"Our reputation and relationship with Wilson Meany has allowed us to
enter into our second neighborhood at Bay Meadows," said Mr. Bauer.
"This is the right place, the right time and the right concept."
TRI Pointe's existing 63-home neighborhood called Amelia features two-
and four- bedroom townhomes. Each phase has sold out quickly after being
In mid-April, TRI Pointe announced the acquisition of 301 prime building
lots in three sought-after communities in Los Angeles, Riverside and
Orange counties in Southern California. TRI Pointe plans to begin
building and selling single-family homes on the lots, located in Azusa,
Temecula and Huntington Beach, later in 2013.
About TRI Pointe Homes
TRI Pointe Homes, Inc. (NYSE: TPH) is engaged in the design,
construction and sale of innovative single-family homes in planned
communities in major metropolitan areas located throughout Southern and
Northern California and, most recently, Colorado. The Company is
headquartered in Irvine, California. For more information about the
company an its new home developments, please visit www.TRIPointeHomes.com.
Except for the historical information contained in this press release,
the matters set forth in this press release, including statements
regarding the Company's plans with respect to building and selling homes
are forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially, including the risks
and uncertainties associated with adverse weather, regulatory approvals,
labor shortages and other risks detailed in the Company's Annual Report
on Form 10-K for the year ended December 31, 2012 and other documents
subsequently filed with or furnished to the Securities and Exchange
Commission. These forward-looking statements are based on current
information that may change and you are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified
in their entirety by this cautionary statement, and the Company
undertakes no obligation to revise or update any forward-looking
statement to reflect events or circumstances after the issuance of this
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