California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Antioch Parcel Sale Completes Assemblage for Master-Planned SFR Project
Kennedy Wilson Brokerage closed the $3.75-million sale of an 8.25-acre parcel known as Delizia Ranch in Antioch. The sale marks the beginning of the development path for a 16-acre master-planned community which will add 216 single-family rental townhomes to the area. VP Eric Rehn represented the seller, Delizia Ranch, LLC.
The sale represents half of the more than 16-acre assemblage now owned by the buyer, BrightSky Residential, whose future townhome development will offer units ranging from 941 to 1,504 square feet. Vertical construction is expected to begin in late 2024 with completion expected in mid-2025.
“It’s no secret that there is a critical need for transit-oriented, multifamily development in the area, and good sites are difficult to find,” said Rehn. “This property checks all the boxes: it’s on a bus route, near a BART station, and has direct access to State Route 4. As a result, this property provides a unique opportunity to develop a well-positioned transit-oriented community that can support the region’s growing labor demand.”
- ◦Sale/Acquisition
- ◦Development
