Lennar Homes is adding to its portfolio in Southern California. According to Vizzda records, the home developer acquired 23.2 acres of land in Ontario for $16 million. The property was sold by Robert B Barth and Kimberly Ashlock.
The property is located at 13150 Archibald Ave. The site is proposed for the development of 126 row townhomes, 83 single family detached cluster units and 56 single family homes. The site is surrounded by a mix of residential and commercial uses with both State Route 60 and Interstate 15 within close proximity. The property is also just a short commute to Ontario International Airport and Chino Airport.
Founded approximately 69 years ago, Lennar has housing developments in 26 states, according to its website. In 2022 alone, the firm developed approximately 66,400 homes.
Lennar Homes has acquired several other land sites in Southern California, signaling even more development for the firm.
In one recent deal, an entity affiliated with the firm acquired several lots in Fontana for $12.98 million. The site is located at the northwest corner of Sierra and Casa Grande avenues and includes a total of 50 lots within the Gardens at the Arboretum, a master planned community within Fontana.
Shopoff Realty Investments also recently sold a 9.8-acre development site in Fullerton to Lennar for $48.75 million. The site is already approved for a 113-home project.