Quote:
Originally Posted by LikeHamilton
Apparently, according to Forge and Foster, this property sale just closed on March 17.
I was sold by Sonoma Homes and bought by Rosehaven Homes for $9,000,000. Works out to $11,538,462. per acre.
Hopefully construction starts soon!
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The latest renderings we have seen are the Rosehaven renderings, so no new design or anything.
This sale is a closing of a conditional deal which was reached a long while ago. Many development land sales are conditional on receiving a certain amount of development approvals.
Notably, Core Urban's purchase of the parking lot on James S. which they started construction on this week also closed this week. That one was likely conditional on receiving building permit for the project, for example.
Here, it was likely conditional on SPA approval or something similar. There is no building permit here yet, so nothing immediate coming in terms of construction, but I expect it will come soon as they have now closed on the property.