HAYWARD, Calif. –TRI Pointe Homes Northern California announced the acquisition of 157 lots in Hayward, Calif., further expanding the company’s offerings, strengthening its reputation and growing its market share in Northern California. Located at the intersection of Burbank Street and Filbert Street, the new community, “Blackstone,” will include 52 single-family detached homes and 105 attached townhomes. TRI Pointe Homes Northern California purchased the 10-acre infill site (formerly a warehouse facility) from a partnership between Libitzky Holdings, L.P., Contra Costa Industrial Park II, L.P., and Filbert/Orton Properties, LLC.
“As a result of our strong relationship with the seller, the recent land acquisition in Hayward provides a strategic opportunity to build new homes in one of the more desirable parts of city while expanding our overall presence in the region,” said TRI Pointe Homes Northern California Division President Jeff Frankel. “The community’s core Bay Area location boasts access to jobs, transit, parks, schools, and retail amenities – key factors we are attracted to that contribute to the overall success of an infill development.”
Designed to inspire living, Blackstone will offer three single-family detached floor plans and six townhome floor plans ranging in size from 1,344 to 1,995 square feet. The expected buyer profiles are first-time homebuyers including professionals, younger couples, and small growing families who work in San Francisco and the East Bay or across the Hayward-San Mateo Bridge and into the Peninsula and Silicon Valley. Pricing is anticipated to begin in the low $500,000s, with a targeted grand opening in Fourth Quarter 2015.
Homebuyers at Blackstone will have excellent freeway access to San Jose and Oakland via I-880, the Tri-Valley (Dublin/Pleasanton/Livermore) via I-580, and the Peninsula via the San Mateo-Hayward Bridge (SR-92). With a BART station within walking distance, downtown San Francisco is just a short 32-minute BART commute away, creating easier access to higher-profile jobs. Additionally, a proposed BART extension to San Jose further enhances Hayward’s location in relation to job centers in the Cannery area. Multiple parks surround the Blackstone neighborhood, and a beautifully rebuilt Burbank Elementary School will add value to the home purchase.
“Affordability is also a key factor at Blackstone where, compared to home values close-by in the Peninsula, South Bay and the Tri-Valley, price points can be approximately 50 percent lower than similar townhomes in neighboring areas.” said Frankel. “Young buyers will be able to purchase a high-quality home that offers them access to both jobs and quality schools in a central location.”
About TRI Pointe Homes Northern California
Based in San Ramon, California, TRI Pointe Homes Northern California designs, constructs and sells single-family homes and condominiums. Founded on more than a century of combined real estate industry experience, the company focuses on building quality master-planned and urban infill communities throughout Northern California. Dedicated to insightful design and superior craftsmanship, the company is setting a new standard in homebuilding and customer experience. In 2013, the company was honored with two of the region’s prestigious MAME awards, which recognize the homebuilding industry’s top achievers in marketing and merchandising excellence. TRI Pointe Homes Northern California is a member of TRI Pointe Group (NYSE: TPH), a family of premium regional homebuilders supported by the significant resources, economies of scale and thought leadership of a national foundation. Together this makes TRI Pointe Group one of the largest homebuilders in the U.S. For more information about TRI Pointe Homes Northern California, please visit www.tripointehomes.com.