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The Real Deal Los Angeles

Lennar is transforming industrial site into residential complex

The country's largest homebuilder has a 162-unit project in Anaheim
January 14, 2019 10:00AM

Lennar Corp CEO Rick Beckwitt and a rendering of the Anaheim project

Lennar Corporation wants to build a 162-unit mixed-use complex on a seven-acre site in Anaheim, seeking to transform what had previously commercial and industrial properties.

The country’s largest homebuilder is planning for 108 townhomes and 54 duplex units, according to Urbanize. The project, to be called Palmilla, is set for 1100 N. Anaheim Boulevard. Amenities will include a pool and spa, and Lennar is planning ground floor retail for a portion.

The Miami-based company has already cleared the tract, which had been warehouses and other low-rise commercial buildings. There are single-family homes to the south and La Palma Park to the east.

Not far north, in the city of Whittier, Lennar has partnered with Brookfield Residential to develop a sprawling 75-acre mixed-use neighborhood at the site of a former correctional facility for juveniles. “The Groves in Whittier” will include 750 mostly for-sale homes and 150,000 square feet of retail space.

Lennar Corp. became the nation’s biggest homebuilder in 2018 when it purchased CalAtlantic Group in a $9.3 billion deal.

The company is branching out with other partnerships, too. It lent iBuyer startup Opendoor $100 million to expand its business. Part of the partnership involves Opendoor referring customers over to Lennar, after they sell their old homes. [Urbanize] — Dennis Lynch