Three builders buy $18 million of lots in Natomas, Woodland

Three different homebuilders have scooped up more than $18 million worth of home lots in the last month in Natomas and Woodland.

According to property records, Lennar Homes of California bought more than 20 parcels, covering what appears to be 64 lots, in the Sundance Lake area of North Natomas. The combined price for those lots, bought from Natomas Investors LLC, was $5.9 million.

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In three separate transactions, homebuilders have scooped up lots in Natomas and Woodland worth more than $18 million combined.

In a separate transaction, R&B 77 LLC, which has a mailing address that corresponds to Reynen & Bardis, bought four parcels within Woodland’s Spring Lake area for $11.35 million. Woodland Spring Lake Partners LP is listed as the seller in that transaction.

Katherine Bardis of Reynen & Bardis said in an email the company will develop 314 lots in that project with prearranged plans to then sell them to national builders.

“We are also working with the city to bring for sale obtainable priced homes to the area on our higher density land,” she said.

Woodside Homes made its own bid to add housing in North Natomas in another deal, buying 19 parcels in the Natomas Meadows subdivision on Golden Poplar Avenue. That housing development ran into financial issues and stopped construction under another developer before the housing downturn and a building moratorium stopped Natomas construction in 2008. But several builders, including Lennar, D.R. Horton and Woodside, are active there now.

Woodside bought those parcels for $1.22 million from Granite Bay Natomas Meadows LP, according to property records.

Scott Hoisington, president of Woodside’s Northern California division, said the most recent purchase was the last of several lots Woodside began buying there a year ago.

“Sales have been good,” he said, adding they’re finished lots that date back to the last building cycle. The homes are alley-loaded and at a price point he said is affordable for North Natomas.

Lennar representatives did not return a call seeking comment on its purchase.

Article and image provided by: Sacramento Business Journal
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