DENVER, CO. –The True Life Companies (TTLC), the premier provider of lots and land to America’s top homebuilders, continues to acquire and prepare underutilized property for future homes and thriving communities. A pioneer in providing valuable inventory in a fluid market, TTLC recently sold three projects in the Bay Area, totaling a market value of $143 million as part of its ongoing commitment to address the region’s housing shortage. To further advance this mission, TTLC focuses on offering innovative investment offerings for urban infill communities in Northern California’s San Francisco Bay Area.
Concentrating recent efforts on the Silicon Valley has resulted in the sale of property in three locations: the first was to Toll Brothers in Milpitas for 59 attached townhomes near Bart Milpitas Station. A second Toll Brothers sale planned for a community of 45 townhomes close to Lawrence Cal Train Station in Santa Clara. A third sale to Meritage Homes is a planned development of 96 single-family homes located in Brentwood.
““By focusing our efforts on urban infill, we are transforming existing underutilized industrial, commercial and retail spaces into more vibrant residential uses that enhance local economies and communities,” said Scott Clark, Chairman and CEO, TTLC. "Targeting locations that are close to mass transit hubs reduces traffic, provides housing alternatives closer to work, and creates conditions that improve the quality of life for residents.”
According to the California Housing Market Update (July 2017) by the California Association of Realtors (CAR), growing trends across much of the state underscore the challenge of affordable living and the scarcity of homes is leading to a higher cost of living. Inventory declined annually for the 12th consecutive month from July 2016 to July 2017, dropping across all regions, including the Bay Area, Southern California and the Central Valley, with the supply of existing single family homes seeing a double digit decline in that last year.
As an example, the lack of inventory has resulted in a steady decline in home sales in Southern California, along with an incline in cost – up to 23 percent more homes were being sold above the half-million mark when compared to 2016, according to the CAR report.
TTLC is working to address this scarcity of housing by providing homebuilders with the inventory they need to meet demand. The Company currently has 300-plus home sites under review for urban infill developments throughout the Bay Area. TTLC is targeting more urban in-fill and redevelopment markets, with property currently under consideration in Denver, CO and other metro regions throughout the western states.
“The leadership team at The True Life Companies has created a fully integrated business platform that seizes on tremendous opportunities in the residential land acquisition, entitlement and development sectors,” Clark said.
TTLC is the premier provider of lots and land to America’s top homebuilders, and the Company has a background in homebuilding as well. They recently completed construction of Fairfield Village in Aurora, Colorado; Golden Oaks in Hayward, CA; and currently have the masterplan of Sterling Meadows in development, in Sacramento, CA. Sterling Meadows will offer shovel ready lots ready for vertical construction, and the first phase of this master plan is scheduled to close escrow with a public homebuilder later this year.
In addition, Symmetry Companies, the luxury resort lifestyle company and subsidiary of TTLC, is dedicated to the acquisition, development, construction and management of private recreational master- planned communities in key markets of the Western United States. Current properties include the 620-acre Pine Canyon in Flagstaff, AZ, and the 3,600-acre Talking Rock Ranch community in Prescott, AZ.
“As we continue to expand our efforts in other key U.S. metro area housing markets, we are the ideal strategic partner for capital or investment firms seeking capital preservation and attractive risk-adjusted yields while gaining prime access to the industrial/commercial redevelopment and residential sectors of the real estate industry,” he added.
TTLC is a strategic investment and asset management firm composed of top-tier professionals with over 250 years of combined industry experience in acquisitions, development, management and homebuilding. This cohesive team of experts focuses on optimizing value, employing replicable, scalable business models through innovative acquisition and management strategies. TTLC is based in Denver CO., holds regional offices in San Ramon, CA, Sacramento, CA; Scottsdale, AZ; Denver, CO; and Newport Beach, CA.
For more information regarding TTLC’s urban infill portfolio visit www.TheTrueLifeCompanies.com.