April 19, 2024 3:14 pm
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Scottsdale-based Taylor Morrison is biting off its biggest piece of San Jose yet

Montecito Vista condosBy Nathan Donato-Weinstein | Silicon Valley Business Journal

Making its biggest land acquisition so far in San Jose, California, Taylor Morrison Home Corp. has acquired an 8-acre chunk of dirt in the developing Montecito Vista area, where it has plans to build 184 townhomes.

Scottsdale-based Taylor Morrison (NYSE:TMHC) paid about $32.5 million, or roughly $176,600 per buildable unit, for the land, according to public tax records. The seller was Newport Beach, California-based Integral Communities.

It’s a significant deal for Taylor Morrison, which has a number of small projects in San Jose but has been looking for a larger development to bite off, a spokeswoman said.

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