MILPITAS, Calif.--(BUSINESS WIRE)--Sep 7, 2023--
The True Life Companies (TTLC) has announced the recent sale of South Main Street and Panchal Assemblage to Toll Brothers on August 31, 2023. South Main Street is a 2.35-acre parcel located within the boundaries of the Silicon Valley in Milpitas, a growing city with the highest tech employment per capita in the area. The proposed plan for the property is to bring new, market-rate housing to Milpitas: a total of 57 townhomes. The original proposal of 41 townhomes was amended by TTLC to include the addition of 16 residences by incorporating unused acreage from an adjacent lot.
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The True Life Companies has announced the recent sale of South Main Street and Panchal Assemblage to Toll Brothers. South Main Street is a 2.35-acre parcel located within the boundaries of the Silicon Valley in Milpitas, a growing city with the highest tech employment per capita in the area. The proposed plan for the property is to bring new, market-rate housing to Milpitas: a total of 57 townhomes. (Graphic: Business Wire)
“The resourcefulness and tenacity behind this transaction truly represents the underpinnings of our Company,” said Scott Menard, Executive Vice President at The True Life Companies. “We identified Milpitas as an ideal city for TTLC to repurpose obsolete commercial property to help satisfy the need for new housing––and we’re thrilled to play a role in positively impacting this rising community.”
Future residents won’t have to travel far to enjoy outdoor activities, shopping, and dining in the Milpitas area. Tom Evatt Park, which offers tennis courts and abundant open space, is located within walking distance from the property. The nearby Great Mall features restaurants and entertainment for the whole family––and the Silicon Valley’s multitude of fine dining, retail and recreation offer additional options that are also within easy reach.
Commuters will appreciate easy access to major tech employers in the Silicon Valley via I-680, I-880, and South Bay Freeway. For families seeking education for children K-12, Milpitas Unified School District is well-rated when compared to other districts in the area. According to Niche, Milpitas ranks #6 in Best School Districts out of the 11 districts in Santa Clara County.
“When it comes to the overall growth and trajectory of the Silicon Valley, particularly Milpitas, the housing market is a huge factor,” said Scott Clark, Chairman and CEO for The True Life Companies. “In an era where we are still facing shortages, the Main Street and Panchal Assemblage is one solution to help address the demand in this area.”
The True Life Companies is composed of a team of highly successful residential real estate professionals who work together with property owners, municipalities, and local stakeholders to address the need for critically needed attainable housing solutions in our metro regions. TTLC seeks to establish suburban and urban attainable housing options that are the result of insightful research, innovative planning, and creative collaboration. The Company’s strategic addition of its homebuilding division, Homes Built for America (HBFA), provides a seamless pathway to bring select properties in well-planned, thoughtfully designed communities to fruition.
The True Life Companies is headquartered in Denver, Colorado with division offices in San Ramon and Sacramento, Northern California; Newport Beach, Southern California; Austin, Texas; Bethesda, Maryland (covering the Mid-Atlantic states); and recently opened offices in Salt Lake City, Utah and Raleigh, North Carolina.
For more information regarding TTLC's property portfolio, including their infill properties, visit www.TheTrueLifeCompanies.com or visit www.facebook.com/thetruelifecompanies.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230907609995/en/
randy@kovachmarketing.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: OTHER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE URBAN PLANNING CONSTRUCTION & PROPERTY
SOURCE: The True Life Companies
Copyright Business Wire 2023.
PUB: 09/07/2023 11:04 AM/DISC: 09/07/2023 11:03 AM
http://www.businesswire.com/news/home/20230907609995/en
