By 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.
