P.M. BRIEFING : Dallas Firm Buys San Clemente Land
- Share via
DALLAS — Centex Development Co. LP said today it has completed the acquisition of 1,077 acres of undeveloped land in San Clemente for about $50 million.
Centex said it will develop the land into approximately 2,200 lots, mostly for single-family detached homes. The tract also contains 65 acres for commercial usage.
Centex said a development agreement with San Clemente allows the lots to be divided into residential villages. The property can contain a commercial-office center.
The developed property will include a city park and a recreation center, Centex said. More than 30% of the land is designated as permanent open space.
Financing was provided by Westinghouse Credit Corp.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
