Real estate developer Lewis Land Developers announced its purchase of over 400 acres of land in California.
In a time where housing inventory has reached historical lows and the housing market has seen impacts from coronavirus across the board, Lewis Land Developers have upped the ante by investing in large pieces of land and future communities.
Cooper’s Landing and Hawthorne Mill, two new residential projects in Fairfield, California, total 412 acres. Cooper’s Landing consists of 32 acres, with plans for about 280 single-family residential lots in three product lines, the company said.
Hawthorne Mill has about 379 acres and is slated to house approximately 300 single-family residential lots in four product lines as well as a large wetland preserve.
These projects are to be incorporated into Lewis’s The Villages at Fairfield master-planned community, in the Bay Area.
“With a long-standing reputation as one of the nation’s leading real estate developers, Lewis continues to assert its financial strength and command in the industry, demonstrating its ability to buy and drive real estate forward in the midst of the COVID-19 pandemic,” the company said in a statement. “The developer’s confidence serves as an investment in the continued growth of the community and greater Bay Area as well as the future of the sector.”
Meanwhile, in Upland, California, closer to Los Angeles, the company acquired another 15.69 acres of land located on Foothill Boulevard.
The company says its plans to develop the land into a gated neighborhood with about 250 homes within the planned community of The Enclave.
“The developer’s confidence serves as an investment in the continued growth of the community and greater San Bernardino County area as well as the future of the sector,” the company said in a statement.