Lennar Corp. has closed on another plot of industrial land in Anaheim’s Platinum Triangle, a few blocks from the heart of its massive A-Town development.
The 13.5-acre property, which cost Miami-based Lennar about $55 million, is expected to hold more than 1,000 homes, along with about 50,000 square feet of shops and restaurants.
Three residential towers overlooking the stadium are planned at the site, which is being called A-Town Stadium Neighborhood, or A-Town 2.
Hotels are a possibility for the newly acquired property, along with condominiums and other residences. A total of 1,132 homes can be built on the land.
Lennar officials expect the site to have more retail and entertainment for tourists than other parts of its A-Town development. The latest buy is right next to Angel Stadium of Anaheim, at the northeast corner of State College Boulevard and East Orangewood Avenue.
“You are going to see more entertainment, and more destination-type offerings here,” said Richard Knowland, division president of Lennar Communities Inc., a unit of the developer.
For more on this story, see the March 13 edition of the Business Journal.
