March 25, 2019 Comments Off on Lennar Acquires 41.5-Acre Development Site in Rancho Penasquitos Views: 1326 California News, San Diego

Lennar Acquires 41.5-Acre Development Site in Rancho Penasquitos

Lennar Corporation acquired a 41.5-acre property in San Diego, with plans to develop a new residential community known as Pacific Village. The property is situated in Rancho Penasquitos, a suburban neighborhood at the southern end of North County.

Located off of Carmel Mountain Road, at the 56 Freeway and Interstate 15, Pacific Village will feature a total of 601 new homes for middle class families. The community will be composed of 277 apartments, 120 townhomes, 105 triplex homes and 99 single-family homes.

Lennar’s Bill Ostrem says, “Pacific Village is focused on smart growth-oriented housing that is close to jobs and transit, and connectivity that promotes walking and biking to nearby amenities and activity centers.”

The seller was Atlantic Pacific Companies. Cushman & Wakefield’s Kevin Nolen, Tim Winslow and Jason Kimmel represented Lennar.

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